Wednesday, April 3, 2013
The Dirty Dozen list highlights scams taxpayers can encounter at any point during the year, but which often peak during tax time.
The following is from the IRS: The Internal Revenue Service has issued its annual “Dirty Dozen” list of tax scams, reminding taxpayers to use caution during tax season to protect themselves against a wide range of schemes ranging from identity theft to return preparer fraud. The Dirty Dozen listing, compiled by the IRS each year, lists a variety of common scams taxpayers can encounter at any point during the year. But many of these schemes peak during filing season as people prepare their tax returns. "This tax season, the IRS has stepped up its efforts to protect taxpayers from a wide range of schemes, including moving aggressively to combat identity theft and refund fraud," said IRS Acting Commissioner Steven T. Miller. "The Dirty Dozen …
Friday, March 15, 2013
Mansfield is ranked 2 out of 18 for the highest average tax bill in Bristol county.
If your tax bill seemed too hefty this year, given the increase many homeowners absorbed, it may not help to look at the average bill for other towns in Bristol County. According to a spreadsheet based on information published by the state Division of Local Services, Mansfield is only second to Easton for the highest average single-family tax bill in the county at $5,370. In order of most to least expensive, here are the average single-family tax bills for other local towns and Bristol County for 2013: Local towns: Bristol County Note: Data for Berkley, Someset, and Westport was not available.
Friday, January 25, 2013
Their proposal calls for a two-thirds majority vote before tax increases can be passed.
Friday, January 25
House Republicans are proposing new rules that would make tax increases harder to pass. Now, tax increases need a simple majority to pass but under the GOP's proposal they would need a two-thirds majority to become law, the AP reported. Republicans also want any change to apply to withdrawals from the state's rainy day fund as well. They also want to bar the house speaker from voting unless there is a tie, claiming that the speaker's vote tends to strongly influence the vote of majority party members. The proposals came out just before Governor Deval Patrick submitted his $34.8 billion budget to the State House. The budget calls for an income tax increase of one percentage point – from 5.25 percent to 6.25 percent – coupled with a …
Wednesday, January 16, 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.
Wednesday, January 16
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. -News release from the Internal Revenue Service
Friday, December 14, 2012
It has not been increased in more than two decades. Some people say the time has come to raise it. Others say people pay enough taxes.
As time progresses, unfortunately so do prices. That cheap burger you bought many years ago is no longer so cheap. What once could be purchased with some loose change you found in your pocket now requires cash or a credit card. But for the past 21 years and counting, the state gasoline tax has remained the same. Massachusetts residents pay 21 cents per gallon at the pump, with nearly all the money going to fund public and private transportation projects and programs (roads, bridges, public transit systems, etc.). Some people say this amount is no longer sufficient to improve and maintain what the state has to offer. In its 2007 report, the state's independent Transportation Finance Commission recommended the tax be raised to 32 cents. The…