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      November 13, 2018

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Tax Relief in Massachusetts

Massachusetts MapMassachusetts 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.

 

Natick Tax Rate To Dip Slightly, But Bill Will 'Look Higher'

NATICK, MA-While the property tax rate is slated to dip ever-so-slightly for FY2019 in Natick, the real estate bill will still look a little higher, according to officials. At a tax ...

Published:  Tue, 13 Nov 2018 08:46:00 GMT



Massachusetts' upside-down tax system

AT A TIME when people across the state seem to agree that our Commonwealth needs additional resources for public investments, asking those with the highest incomes to contribute a similar share of the...

Published:  Wed, 07 Nov 2018 13:44:00 GMT



Here's the lawmaker who can request Trump's tax returns and he's right over the Massachusetts border

His name is Rep. Richard Neal and he's about to become a household name. After nearly a decade in the minority, Democrats will return to Washington in January ready to unleash the full weight of ...

Published:  Wed, 07 Nov 2018 12:24:00 GMT



Pittsfield, MA Mayor Announces "Historic" Tax Break

The mayor of Pittsfield, Massachusetts is announcing what she calls a historic break for taxpayers in Berkshire County's largest community. Mayor Linda Tyer, who enters the third year of her first ter...

Published:  Thu, 08 Nov 2018 09:40:00 GMT



US Rep. Neal: Democrats Plan to Ask for Trump Tax Returns

BOSTON (AP) - U.S. Rep. Richard Neal, in line to be the next House Ways and Means Committee chairman, is planning to ask for President Donald Trump's tax returns. The Massachusetts Democrat said "yes, ...

Published:  Wed, 07 Nov 2018 15:07:00 GMT



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