You may be able to claim a refundable credit on your MA personal income tax return. The circuit breaker tax credit is based on the actual real estate taxes or rent paid on the Massachusetts residential property you own or rent and occupy as your principal residence. The maximum credit amount is determined each year. If [...]
This article was published by the IRS. The Internal Revenue Service is reminding IRA owners age 70½ or over of their option to transfer up to $100,000 to charity tax-free each year. These transfers, known as qualified charitable distributions or QCDs, offer eligible older Americans a great way to easily give to charity before the end [...]
Thieves are constantly working to steal people's identity and personal data so they can use it to fraudulently file tax returns and claim refund money that isn't theirs. Here are a few things you should know so you don't fall victim to these scams: First, the IRS won't initiate contact with you by email or over [...]
Gift cards are for gifts, not for making tax payments. Many people give gift cards as a convenient gift for any occasion. Scammers use gift cards to steal your money. Here's how this usually works: The scammer may call you, impersonating an IRS agent, or contact you by text, email, or social media. The criminal calls [...]
This article was published by the IRS. It's important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part of any gain from the sale from their income. Here are some key things homeowners should consider when selling a home: Ownership [...]
