Thursday, April 18, 2013
State and federal authorities say they want to give individuals impacted by the bombings more time to file their taxes.
Due to the Boston Marathon bombings, two deadlines to file income taxes have been extended for the Boston area. The Massachusetts Department of Revenue has extended the deadline to file income tax returns to April 23, according to the DOR. The extension applies to anybody impacted by the bombings. The DOR extended the deadline saying they wanted to give anybody impacted by the Boston Marathon bombings more time to file. The original deadline was Tuesday, April 16. Also, the federal Internal Revenue Service has extended its income tax return filing deadline to July 15, according to its website. The extensions applies to Suffolk County residents, vitctims, victims’ families, first responders and individuals who live outside of Suffolk …
Monday, April 8, 2013
Check out a sampling of Winchester-based tax offices that can handle your tax preparation in our latest You Ask Patch Answers column.
Still have not filed your 2013 tax return and looking for a tax preparer in Winchester? Check out a sampling of Winchester-based tax offices that can handle your tax preparation: Do you own a Winchester tax preparation office not listed above? Post your office's name, street address and phone number in a comment below.
Saturday, April 6, 2013
Should the state forge ahead with Gov. Deval Patrick's bold plan to invest now? Or should it follow the Legislature leadership's proposal to address the bottom line before embarking on bigger initiatives?
Massachusetts legislators this week answered Gov. Deval Patrick's ambitious plan to raise $1.9 billion for transportation and education with a $500 million plan of their own, which says the governor is asking for too much, too soon as the Bay State shakes off the effects of the Great Recession. Who's right? Should the state forge ahead in a bold plan to invest now? Or should it cautiously address the bottom line before embarking on bigger initiatives? While Patrick's plan includes funding for both the state transportation system and increased education funding from preschool through college, House and Senate lawmakers eschew new revenue for education, focusing solely on closing the transportation budget gap over the next five years. The …
Wednesday, January 30, 2013
Taxes are due April 15.
- On News
Wednesday, January 30
Tuesday, January 15, 2013
Standard deductions go up, but the ceiling for itemized deductions go down in 2013, plus other changes that will affect your taxes this year.
Tuesday, January 15
[Editor's note: The information below derived from a press statement issued by the Internal Revenue Service.] On Friday, the Internal Revenue Service announced annual inflation adjustments for tax year 2013, including the tax rate schedules, and other tax changes from the recently passed American Taxpayer Relief Act of 2012. The tax items for 2013 of greatest interest to most taxpayers include the following changes. Details on these inflation adjustments and others are contained in Revenue Procedure 2013-15, which will be published in Internal Revenue Bulletin 2013-5 on Jan.28, 2013. Other inflation adjusted items were published in October 2012 in Revenue Procedure 2012-41.
Friday, January 4, 2013
The main reason is the elimination of the payroll tax.
Despite the House and Senate reaching a Fiscal Cliff deal, 77 percent of Americans will pay more in taxes in 2013. That's because even though just 1 percent of households will pay higher income taxes, an increase in federal payroll taxes will hit nearly every wage earner, according to analysis by the Tax Policy Center. Individuals earning between $40,000 and $50,000 a year face an average tax increase of $579 in 2013, according to the Tax Policy Center's analysis. The average U.S. worker would pay $679 more in taxes this year under the fiscal cliff deal passed by the Senate early Tuesday morning, while the average member of the top 1 percent of earners would pay $73,633 more, according to Tax Policy Center analysis. The increases are …
Wednesday, December 12, 2012
The Internet retailer said the collection would begin in time for next year's holiday shopping season.
Checking out at Amazon.com will be a little pricier starting next November. Gov. Deval Patrick's office announced the deal Tuesday, stating the company would be adding jobs to Massachusetts in the next few years, WBZ reported. Amazon.com and Patrick said they would work together to support a federal bill allowing individual states to collect sales tax in states where they have no physical location. "I value the contributions large and small employers alike make to Massachusetts' economic vitality, and this agreement captures that," Patrick said in a statement. "We are thankful Amazon was willing to come to the table and we will continue our conversations with them about creating jobs here. This agreement is a win for all sides, and I am …
Monday, December 3, 2012
A look at tonight’s Board of Selectmen’s meeting.
The Board of Selectmen is holding a public hearing at 7:45 p.m. tonight in its meeting room in Town Hall. The purpose of the hearing is to establish a residential factor and allocate the percentage of the tax levy to be borne by each class of property for Fiscal Year 2013, according to a town announcement. The public is encouraged to express views in the classification, according to the town. The board’s meeting gets underway at 7:30 p.m. See the attached agenda for more information.
Friday, November 30, 2012
Massachusetts Democrats in Congress want to avoid cuts in benefits as part of any deal, but proposals such as raising the eligibility age for Medicare are still on the table. What would you do?
As Congress negotiates a deal to avoid the so-called "fiscal cliff" on Jan. 1, Massachusetts' congressional representatives have voiced their opposition to any cuts in benefits such as Social Security, Medicare and Medicaid, the Boston Globe reports. However, there are proposals still on the table that would change those benefit programs, including linking Social Security benefits to a more conservative inflation index that would slightly reduce annual increases, or raising the eligibility age for Medicare from 65 to 67. The Globe reported that while the Bay State's legislators were united against changes to Social Security, there's some wiggle room on Medicare. Rep. Ed Markey opposes raising the Medicare eligibility age; Rep. Michael …
Friday, November 23, 2012
Gov. Deval Patrick plans to ask lawmakers to raises taxes to make up for the shortfall in Massachusetts' transportation system. What options should they consider and what's off the table?
Would you be willing to pay more at the pump, have a tracking system on your car that taxes you by the mile, or see tolls on state highways? Those are just some of the possibilities looming as Massachusetts looks to erase the state's transportation system's deficit. The Boston Globe reported that Gov. Deval Patrick will ask lawmakers to raise taxes in order to pay for a transportation system—from the MBTA to roads and bridges—that continues to operate in the red. The administration will present a specific proposal by Jan. 7. One option is raising the gas tax, a route Patrick sought in 2009 only to be rebuffed by the legislature. Patrick sought a 19 cent increase while business groups endorsed a 25 cent increase. Ultimately, the state …