Cummings Lamont McNamee Accounting Firm in Maine and New Hampshire

Tax Alerts

IRS Urges Taxpayers to Review Withholding, IR-2023-205
The IRS has urged taxpayers to promptly review their tax withholding to avoid surprises, whether in the form of significant refunds or balances due when filing taxes next year. The IRS has p...

Low and Moderate Income Taxpayers Can Save More through Saver’s Credit in 2024, IR-2023-222
The IRS has reminded low and moderate income taxpayers that they can save more for their retirement now through Saver's Credit. This credit is available to taxpayers who are 18 years or old...

IRS Reminds IRA Owners of Tax-Free Charitable Transfer Option, IR-2023-215
The IRS has reminded individual retirement arrangement (IRA) owners, aged 70Â½ or older, of tax-free charitable transfers permitting senior citizens to contribute up to $100,000 annually to...

Energy Credit Online Tool Now Available to Sellers, IR-2023-202
The IRS has announced that enrollment to the IRS Energy Credit Online tool is now open to the sellers of clean vehicles. The Energy Credits tool is available free of cost and will enable�...

IRS Offers Cybersecurity Tips, IR-2023-200
The IRS and Security Summit partners reminded taxpayers to remain vigilant against potential cybersecurity threats. As the National Cybersecurity Awareness Month is wrapped up, taxpayers were encour...

IRS Cautions Against Charity Scams Amid Global Crisis, IR-2023-196
The IRS has issued a warning to taxpayers, advising them to be cautious of fraudulent solicitors who pretend to represent genuine charities. These deceptive charities divert donations away from t...

ME - Mail-order pharmacy apportionment
The Maine Supreme Judicial Court held that a nationwide mail-order prescription drug insurance business was required to apportion its receipts to the locations of the retail pharmacies from which pres...

MA - Withholding regulations finalized
Massachusetts finalized amendments to personal income tax regulations that clarify withholding for:income from sports wagering; andlottery winnings of more than $600.830 CMR 62B.2.1, Massachusetts Dep...

NH - Interest rates increase
Interest rates on underpayments and refunds will increase for 2024.For 2024, rates are:9% for underpayments; and6% for refunds.Technical Information Release TIR 2023-002, New Hampshire Department of R...

Kennebunk, ME - (207) 985-3339 Stratham, NH - (603) 772-3460 Portsmouth, NH - (603) 772-3460

CLM is a regional CPA firm of trusted business consultants and advisors who identify opportunities, provide solutions and deliver exceptional personal service to individuals, closely held businesses and other organizations. Our wide range of expertise and our strategic alliance network provide us with resources to deliver these services.