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Tax Relief in Massachusetts

Massachusetts residents have one of the lowest personal income tax rates in the nation with its flat rate of 5.2%. This puts the state 21st lowest among all states that levy an individual income tax. However, with an average of $1,761 collected per person in state and local income taxes, Massachusetts ranks fourth highest in the nation.

Similarly, state residents pay the fourth highest amount in average federal taxes per year at $15,552, more than $4,000 higher than the U.S. average. Property taxes are also high compared with the rest of the nation, as Massachusetts' state and local governments collected more than $2,000 per person. These three taxes have made it necessary for many individuals in Massachusetts to seek tax relief as their financial burdens increase.

Even with a median income of $62,963, Massachusetts residents have seen a decline of more than 8% in the average household income over the past few years.

This relatively high median income does not stop many people in Massachusetts from having taxes owed to federal, state, and local government. When forced to choose between saving money to pay the IRS and feeding their families, it is no surprise that many families use their income to buy groceries, put gas in the car, or pay the rent. When April 15th rolls around, individuals find themselves with little-to-no money in savings to meet their tax obligations.

Because of the challenges faced by many living in Massachusetts, tax relief is becoming one popular strategy to manage mounting pressures due to job loss, medical bills, or increasing tax bills. Experienced tax relief companies have a wide range of tools available to help their clients alleviate the stress of owing taxes at the federal and state level, and of knowing that wages may be garnished or assets seized. Tax relief can come in many formats, such as audit representation and reconsideration, setting up various types of payment plans with the IRS, and tax return review.

 

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Tax Relief In The News

Top Democrat: We need property tax relief, Gov. Murphy. Restore homestead rebates

New Jersey is known for many things - our beautiful shore, our great history, Bruce Springsteen - but it's also known for something much less attractive: having the highest property taxes in the nation. New Jersey's residential property taxes set a new ...

Published:  Mon, 21 May 2018 08:44:00 GMT



Alcohol industry pushes lawmakers to uncork excise tax relief

The alcohol industry is pressing Congress to make permanent the excise tax relief it received under the Republican tax law. The measure President Trump Donald John Trump Oregon governor to face state rep in November Ashford, Eastman neck and neck in ...

Published:  Wed, 16 May 2018 03:00:10 GMT



Tax Relief Associates Offers Back Tax Help

A notice and demand is mailed to the taxpayer, and when the demand for payment is not satisfied, the IRS sends the balance due account to a revenue officer in the field; The revenue officer pursues administrative levies, seizures, or judicial collection ...

Published:  Tue, 15 May 2018 10:52:00 GMT



Now: Pensions renews tax relief top-up

Workplace pension provider Now: Pension will be topping up pension pots of non-taxpayer members, to make up for the income tax relief shortfall, for the 2017 to 2018 and 2018 to 2019 tax years. Currently, as many as 300,000 low paid earners are being ...

Published:  Tue, 15 May 2018 03:33:00 GMT



IRS offering tax relief for Greensboro, Guilford County residents affected by tornado

GREENSBORO - The Internal Revenue Service has announced tax relief for those in Greensboro and Guilford County affected by the April 15 tornado. The move comes as a result of President Trump approving a disaster declaration Tuesday for those areas ...

Published:  Fri, 11 May 2018 12:35:00 GMT



Yes on Prop. 72 for water and tax relief

Proposition 72 is a rare, commonsense tax relief proposal coming out of Sacramento. As such, we recommend voters approve it. Currently, homeowners who install rainwater capture systems in their yards face higher property tax bills, which effectively ...

Published:  Tue, 08 May 2018 13:30:00 GMT



Why we will never find out the details of budget tax relief: government says their data would be 'unreliable'

Treasurer Scott Morrison has refused to provide yearly budget costings on tax relief plans because the Treasury data is 'not reliable'. The Coalition and Labor are locked in a battle over tax since Tuesday night's budget. The Government is promising $ ...

Published:  Sun, 13 May 2018 06:43:00 GMT



Property tax relief for divorcees, Alzheimer's patients

Parents of special needs children, persons suffering from Alzheimer's and divorcees may be able to benefit from relief from property tax, if they can show an inability to pay. So said Minister in the Ministry of Finance Allyson West as she responded to ...

Published:  Fri, 11 May 2018 19:55:00 GMT




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