IR-2024-99: Special Saturday help available April 13 at 70 IRS Taxpayer Assistance Centers nationwide; no appointment needed

As the April 15 federal tax filing deadline nears, the Internal Revenue Service today announced it will open more than 70 Taxpayer Assistance Centers (TACs) around the country on Saturday, April 13, for face-to-face help. This special help is available from 9 a.m. to 4 p.m. local time.

At TACs, people meet face-to-face with IRS employees to get help with tax account issues, such as authenticating someone's identity, asking about account adjustments and making payments by check or money order. The IRS plans one additional special Saturday opening on May 18.

"IRS employees have been working hard throughout this tax season to help taxpayers, and the special Saturday hours are one more way we've expanded our services," said IRS Commissioner Danny Werfel. "With the help of additional funding through the Inflation Reduction Act, we've been able to serve more taxpayers and provide additional assistance. For these special Saturday sessions, we encourage taxpayers to plan ahead so they have the right information. Frequently, taxpayers can get the help they need by visiting IRS.gov."

Before travelling to an office, the IRS encourages everyone to visit the event page IRS face-to-face Saturday help to get current information. The IRS notes representatives can't accept cash payments during the special Saturday openings, and tax return preparation is not an available service.

The IRS has online resources for many common tax situations, including several tools for making payments, getting an extension to file and setting up installment agreements. Taxpayers can make payments using their personal financial accounts, debit or credit cards and even digital wallets using tools on IRS.gov.

Tips for taxpayers planning a visit

Individuals should bring the following documents when they visit IRS Taxpayer Assistance Centers:

• Current government-issued photo identification, along with a second form of identification for identity verification services.
• Social Security or Individual Taxpayer Identification numbers for themselves and all members of their household, including their spouse and dependents (if applicable).
• Any IRS letters or notices received and related documents.
• A copy or digital image of the tax return in question if one was filed.

The IRS noted that because appointments aren't necessary for these special Saturday hours, some locations may see high demand and wait times can be longer than usual. To help with this and avoid delays, the IRS encourages people to plan ahead, review key tips and come prepared with needed information. IRS employees will be working hard to serve as many people as quickly as possible.

Extended office hours on Tuesdays and Thursdays

During the filing season, the IRS has also been providing extended office hours at many TACs nationwide. The added hours will end on Tuesday, April 16. To see if a nearby office is participating in the program, check its listing on the IRS/taclocator. Taxpayers can walk in or make appointments for service during extended hours. Cash payments are accepted during the additional office time, but taxpayers must have an appointment at a TAC currently accepting cash.

Taxpayer Assistance Center Office Locator

Normally, TACs are open Monday through Friday, 8:30 a.m. to 4:30 p.m., and provide service by appointment only. To make an appointment, call 844-545-5640.

Services provided

The IRS's Contact Your Local Office site lists all services provided at specific TACs. Tax return preparation is not a service offered at IRS TACs during these events or any operating hours. The IRS will provide information to anyone needing to find free local tax preparation resources. Additionally, File your return on IRS.gov gives step-by-step information on how to file individual tax returns.

If someone has questions about a tax bill or IRS audit, or if they need help resolving a tax problem, they'll receive assistance from IRS employees specializing in those services. If these employees aren't available, the individual will receive a referral for these services. IRS Taxpayer Advocate Service employees may also be available to help with some issues.

Professional foreign language interpretation will be available in many languages through an over-the-phone translation service. For deaf or hard of hearing individuals who need sign language interpreter services, IRS staff will schedule appointments for a later date. Alternatively, these individuals can call TTY/TDD 800-829-4059 to make an appointment.

During the visit, IRS staff may also request the following information:

• A current mailing address,
• Proof of financial account information included on a tax return to receive payments or refunds by direct deposit.

Continue reading the full press release here ->   https://www.irs.gov/newsroom/special-saturday-help-available-april-13-at-70-irs-taxpayer-assistance-centers-nationwide-no-appointment-needed

FTC says H&R Block pressures people into overpaying for tax prep

FTC says H&R Block pressures people into overpaying for tax prep By Ari Lazarus People hate filing taxes, but they love getting something for free. So, when H&R Block advertises that people can use its online tax product for free, people listen. The problem, according to the FTC? It often isn't free. Read more ->  https://consumer.ftc.gov/consumer-alerts/2024/02/ftc-says-hr-block-pressures-people-overpaying-tax-prep FTC says H&R Block pressures people into overpaying for tax prep

Tax preparation help available at Library

VITA at the Franklin Public Library offers help preparing to file your income taxes. Stop by each Saturday from 10 AM to 4 PM. Volunteers will help assess your needs and either schedule an appointment to process your taxes or maybe do them on the spot.

For more info visit https://www.franklinma.gov/adult-programs-services/pages/volunteer-income-tax-assistance

Shared from -> 

https://www.instagram.com/p/C3D-AX4v3MC/

National report ranks MA as #1 most improved in tax fairness

Primarily due to the passage of the Fair Share Amendment, a new national report finds that the Commonwealth is the top-ranking state for improvements in tax fairness. The middle class in Massachusetts pays a smaller share of their income in state + local taxes than in 32 other states. Today, the Institute on Taxation and Economic Policy (ITEP) released "Who Pays?," the only distributional analysis of tax systems in all 50 states. The comprehensive 7th edition of the report ranks the progressivity and regressivity of state tax systems by measuring effective state and local tax rates paid by all income groups. Massachusetts's relative ranking among the 50 states (in terms of tax progressivity since 2022) improves several positions, the most of any state. This is overwhelmingly a result of the Fair Share Amendment. However, there is still work to be done. Massachusetts's top 1% still pay a lower share than the bottom 95%. With our tax system still regressive under current law, we can look to neighbors Maine, Vermont and New York for examples of states that have created fair (progressive) tax codes. Read more.  Read our summary ▶️Watch on YouTube: Phineas Baxandall speaks on the findings of ITEP's report The Massachusetts Budget and Policy Center (MassBudget) is a leading think tank advancing policy solutions to create an inclusive, thriving Commonwealth for all. Support our work today!

Massachusetts Budget and Policy Center | 1 State Street, Suite 1250 , Boston, MA 02109 Sent by pbaxandall@massbudget.org powered by Try email marketing for free today!

Tax Preparation Help with VITA Registration Day January 20 - from 10 AM to 4 PM

Come to the library January 20th and get your appointment for Tax preparation help. This is a walk in event where volunteers will help you assess your needs, double check paperwork, and get you an appointment to file your taxes in February, March, or April.

The IRS's Volunteer Income Tax Assistance (VITA) program offers free basic tax return preparation to qualified individuals. VITA sites offer free tax help to people who need assistance in preparing their own tax returns, including:

• People who generally make $60,000 or less
• Persons with disabilities; and
• Limited English-speaking taxpayers

Tax Preparation Help with VITA Registration Day January 20 -  from 10 AM to  4 PM

Shared from -> https://www.franklinma.gov/franklin-public-library/bulletins/tax-preparation-help-vita-registration-day

Tax relief package set for MA House/Senate votes Weds/Thur

"Hailing it as a historic win for taxpayers, Massachusetts lawmakers will begin voting Wednesday on a $1 billion tax package that would boost tax breaks for families, seniors, and others while slashing state taxes on profits from short-term investments, a change that had divided Democrats.

The package would save hundreds of thousands of taxpayers a collective $561 million this fiscal year, according to legislative officials, with expectations that the total savings would eventually climb to just over $1.02 billion once it goes into full effect in fiscal year 2027, which begins July 1, 2026.

Its emergence follows nearly two years of debate and months of closed-door negotiations about how best to ease the burden on taxpayers squeezed by the state’s rising cost of living and bring the tax code more into line with other states.

The House is expected to vote on the measure Wednesday, and the Senate on Thursday, and it is expected to pass and move on to Governor Maura Healey, who has championed the need for tax relief."

Continue reading the article (subscription may be required)

https://www.bostonglobe.com/2023/09/26/metro/massachusetts-tax-relief/

Senate President Karen E. Spilka and House Speaker Ronald Mariano (right) unveiled the tax relief deal during a press conference in the Senate Reading Room. PAT GREENHOUSE/GLOBE STAFF

Commonwealth Magazine provides their coverage ->

https://commonwealthmagazine.org/state-government/legislative-leaders-roll-out-generational-tax-package/

and here -> https://commonwealthmagazine.org/state-government/tax-relief-bill-alters-refunds-under-tax-cap-law/

Talking Property Tax Data Insights with Max Morrongiello - 08/10/23 (audio)

FM #1049 = This is the Franklin Matters radio show, number 1049 in the series. 

This session of the radio show shares some Mass Property Tax Data Insights as analyzed by Max Morrongiello. We had our conversation in the Franklin TV studio on Thursday, August 10, 2023.  

Max shares some insights from the linear regression analysis he performed with the available data from the US Census and Mass Dept of Revenue among other resources.

For example, Franklin property tax bills are about 4% less than the linear regression analysis would predict them to be.

The recording runs about 28 minutes. Let’s listen to my conversation with Max on Thursday, August 10, 2023

Audio file -> https://franklin-ma-matters.captivate.fm/episode/fm-1049-property-tax-data-insights-08-10-23

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Policy Brief on per pupil spending

https://drive.google.com/file/d/1LP5fI1Gm0NKkUuAYaWTKF2HSadjfinNY/view?usp=drive_link 

Are Franklin’s taxes low?

https://drive.google.com/file/d/1LJHukt7tGB3-dTLWyX5NoIJE8J8jZib3/view?usp=drive_link 

Data files used for the analysis

Microsoft Excel format ->

https://docs.google.com/spreadsheets/d/1uQE3e2_4RSj3zZRQ-9p7biDI-3Kk6E6d/edit?usp=drive_link&ouid=101938843903614700481&rtpof=true&sd=true 

Comma Separated Value format (CSV)

https://drive.google.com/file/d/1E90EFjLb0GkMrAFy75zXR7wqHHh5XgTV/view?usp=drive_link 

Info on JASP -> https://en.wikipedia.org/wiki/JASP   and   https://jasp-stats.org/jasp-materials/ 

Max’s LinkedIn profile -> https://www.linkedin.com/in/maxmorrongiello/  

And specifically on metrics and statistical analysis -> Maxwell Metrics: Policy Analytics & Consulting

You can contact Max via email -> Max.Morrongiello @ gmail dot com

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We are now producing this in collaboration with Franklin.TV and Franklin Public Radio (wfpr.fm) or 102.9 on the Franklin area radio dial.  

This podcast is my public service effort for Franklin but we can't do it alone. We can always use your help.

How can you help?

• If you can use the information that you find here, please tell your friends and neighbors

• If you don't like something here, please let me know

Through this feedback loop we can continue to make improvements. I thank you for listening.

For additional information, please visit Franklinmatters.org/ or www.franklin.news/

If you have questions or comments you can reach me directly at shersteve @ gmail dot com

The music for the intro and exit was provided by Michael Clark and the group "East of Shirley" . The piece is titled "Ernesto, manana"  c. Michael Clark & Tintype Tunes, 2008 and used with their permission.

I hope you enjoy!

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You can also subscribe and listen to Franklin Matters audio on iTunes or your favorite podcast app; search in "podcasts" for "Franklin Matters"

Talking Property Tax Data Insights with Max Morrongiello - 08/10/23 (audio)

CommonWealth Magazine: "Mass. House approves unaltered tax plan"

"THE HOUSE OF REPRESENTATIVES voted overwhelmingly on Thursday to pass its $1.1 billion tax relief bill exactly as pitched earlier this week. A provision that would adjust an obscure tax giveback law dominated most of the tax plan debate but ultimately made it through to the final bill unchanged.

The mid-afternoon vote, which approved the package, 150-3, advances a measure that top House Democrats say will bolster the state’s competitiveness and affordability and bring tax rates in line with those in other states. Its top-line features are cuts in the short-term capital gains tax from 12 percent to 5 percent and raising the estate tax exemption from $1 million to $2 million, along with tax deductions targeting parents, caregivers, seniors, and lower income renters. 

“Let’s hope it makes us more competitive and people will hesitate before moving,” House Speaker Ron Mariano said earlier in the week about the tax package. “We don’t want you to leave. We want you to stay here.”

The tax debate will now move to the Senate."

Continue reading the article online at CommonWealth Magazine -> 

https://commonwealthmagazine.org/state-government/mass-house-approves-unaltered-tax-plan/ 

The legislation text can be found online ->  https://malegislature.gov/Bills/193/H3770

CommonWealth Magazine: "Mass. House approves unaltered tax plan"

IRS data shows "High-Income Households Are Not Fleeing Massachusetts"

"Internal Revenue Service (IRS) data show that Massachusetts has low rates of out-migration among high-income households compared to other states. As a consequence, delivering large tax cuts to these few households to stem a non-existent exodus is misguided. Moreover, the best research shows that state tax levels have little impact on the decisions of high-income households about where to live. 

At the same time, tax cuts aimed at these few households would sacrifice revenue needed for public investments that address the challenges working families in Massachusetts face. These include the high cost of housing, childcare, and post-secondary education, as well as unreliable transportation systems.

A forthcoming review of IRS data from 2011-2020 (the most current such data available) by the Center on Budget and Policy Priorities shows that Massachusetts has a lower rate of out-migration among high-income households than all but nine other states.1 Notably, the Massachusetts average annual rate of out-migration among high-income households is lower than rates in seven of the nine states that have no income tax at all. 

(Presenting out-migration data as rates – rather than simply by the total numbers of movers –  allows a proper comparison among states, regardless of differences in the states’ overall population sizes. It also makes sense to look directly at out-migration separate from in-migration because there can be different issues driving these decisions.)"

Continue reading the article online -> 

https://massbudget.org/2023/04/06/high-incomes-are-not-fleeing-ma/ 

IRS data shows "High-Income Households Are Not Fleeing Massachusetts"

Massachusetts Department of Revenue - Tax Assistance for Veterans

Massachusetts Department of Revenue - Tax Assistance for Veterans

State Taxes Only

Shared from -> https://www.franklinma.gov/veterans-services/news/free-tax-preparation-qualified-veterans

Massachusetts Department of Revenue - Tax Assistance for Veterans - State Taxes Only

Attention Franklin Senior Homeowners - You may be entitled to a $1,000 tax reduction

Attention Franklin Senior Homeowners

You may be entitled to a reduction in the real estate tax you're required to pay this year!  July 2022

You may be entitled to a $1,000 tax reduction if you have been continuously domiciled in Massachusetts for 10 years and have owned and occupied a Massachusetts property for 5 years;

-AND-

You are single,

• Age 70 or older on July 1, 2022,

• Your income last year was $22,837 or less, and

• Your assets (checking, savings, bonds, etc.) not including your home were $37,984 or less.

-OR-

You are married,

• One of you was age 70 or older on July 1, 2022,

• Your income last year was $28,151 or less, and

• Your assets (checking, savings, bonds, etc.) not including your home were $40,696 or less.

--------------------------------------------------------------------------------------

If you are over an above limit, you may still be entitled to a $369 tax reduction if

you have owned and occupied your Franklin property as your domicile for at least 5 years,

-AND-

Your assets (checking, savings, bonds, etc.) not including your home were $54,262 or less,

-AND-

You are a surviving spouse, any age;

-OR-

If you are single and 70 or older as of July 1, 2022,

-OR-

If you are married and one was age 70 or older July 1, 2022.

If you think you might qualify and need information or assistance in completing the application, call the Franklin Senior Center; 508-520-4945.

Some widows of veterans may be eligible for a tax exemption.

Please contact: Veterans' Services Office at (508) 613-1315

Download a copy of the flyer ->   https://drive.google.com/file/d/1sVFDjglfqtJlBBgBOjVdVsRLZ2-MdfN0/view?usp=share_link

Attention Franklin Senior Homeowners - You may be entitled to a $1,000 tax reduction 

Consensus on the MA revenue forecast remains to be set but 2 hours of hearing updates gets it started

"TOP BUDGET OFFICIALS from the Legislature say they intend to abide by the will of the voters and make sure all revenue from the new millionaire tax goes to “new initiatives” in transportation and education.

Exactly what would qualify as a “new initiative” hasn’t been decided yet (is a new bus or subway car a new initiative?), nor has any decision been made on whether the money would be evenly split between education and transportation.

“That’s all to be discussed,” said Sen. Michael Rodrigues, the chair of the Senate Ways and Means Committee."

Continue reading the article

https://commonwealthmagazine.org/state-government/special-treatment-considered-for-revenue-from-millionaire-tax/

"STATE REVENUES are expected to rise slightly in the coming fiscal year, but top budget officials from the Legislature and Healey administration say it’s still unclear whether there is enough money to enact permanent tax cuts.

At the end of last year’s legislative session, former governor Charles Baker and Senate leaders wanted to press ahead with $500 million in permanent tax cuts in addition to nearly $3 billion in one-time refunds from the state’s tax cap law."

Continue reading the article

https://commonwealthmagazine.org/state-government/top-budget-officials-still-undecided-on-tax-cuts/

"State revenue officials said Tuesday they could collect at least $1.4 billion — and perhaps up to $1.7 billion — next fiscal year from Massachusetts’ newly enshrined tax on its wealthiest earners, kick-starting months of debate over how to steer the new injection of tax money.

The projection, offered Tuesday in a legislative hearing, marked the first official estimate state officials have provided on what they think the so-called “millionaires tax” will contribute to coffers in its first year since taking effect Jan. 1. Narrowly passed by voters on the November ballot, the measure increases the state’s 5 percent income tax rate to 9 percent on annual income exceeding $1 million."

Continue reading the article in the Boston Globe (subscription may be required)

https://www.bostonglobe.com/2023/01/24/metro/new-millionaires-tax-could-generate-least-14-billion-next-year-state-officials-project/

The 2 hour hearing that generated these articles is available for video replay on your schedule  https://malegislature.gov/Events/SpecialEvents/Detail/403/Video1

The Big 3 on budget issues: From left, Matthew Gorzkowicz, Gov. Maura Healey's secretary of administration and finance; Sen. Michael Rodrigues, chair of the Senate Ways and Means Committee; and Rep. Aaron Michlewitz, chair of the House Ways and Means Committee. (Photo by Bruce Mohl)

IRS reminds those over age 72 to start withdrawals from IRAs and retirement plans to avoid penalties

The Internal Revenue Service today (Dec 12, 2022) reminded those who were born in 1950 or earlier that funds in their retirement plans and individual retirement arrangements face important upcoming deadlines for required minimum distributions to avoid penalties.

Required minimum distributions, or RMDs, are minimum amounts that many retirement plan and IRA account owners must generally withdraw annually after they reach age 72. Account owners can delay taking their first RMD until April 1 following the later of the calendar year they reach age 72 or, in a workplace retirement plan, retire. RMDs are taxable income and may be subject to penalties if not timely taken. 

Required minimum distributions

IRAs: The RMD rules require traditional IRA, and SEP, SARSEP, and SIMPLE IRA account holders to begin taking distributions at age 72, even if they're still working. Account holders reaching age 72 in 2022 must take their first RMD by April 1, 2023, and the second RMD by December 31, 2023, and each year thereafter.

Retirement Plans: In 401(k), 403(b) and 457(b) plans; profit-sharing and other defined contribution plans; and defined benefit plans, the first RMD is due by April 1 of the later of the year they reach age 72, or the participant is no longer employed (if allowed by the plan). A 5% owner of the employer must begin taking RMDs at age 72.

RMDs may not be rolled over to another IRA or retirement plan. See the RMD Comparison Chart that highlights some of the basic RMD rules that apply to IRAs and defined contribution plans. Roth IRAs do not require distributions while the original owner is alive.

RMD Calculations and 50% tax on missed distributions
An IRA trustee, or plan administrator, must either report the amount of the RMD to the IRA owner or offer to calculate it. An IRA owner, or trustee, must calculate the RMD separately for each IRA owned. They may be able to withdraw the total amount from one or more of the IRAs. However, RMDs from workplace retirement plans must be taken separately from each plan.

Not taking a required distribution, or not withdrawing enough, could mean a 50% excise tax on the amount not distributed. The IRS has worksheets to calculate the RMD and payout periods.

Inherited IRAs
An RMD may be required for an IRA, retirement plan account or Roth IRA inherited from the original owner. Retirement Topics - Beneficiary has information on taking RMDs from an inherited IRA or retirement account and reporting taxable distributions as part of gross income. Publication 559, Survivors, Executors and Administrators, can help those in charge of the estate complete and file federal income tax returns, and explains their responsibility to pay any taxes due on behalf of the decedent or person who has died.

2020 coronavirus-related distribution
Since 2020 RMDs were waived, an account owner or beneficiary who received an RMD in 2020 had the option of returning it to their IRA or other qualified plan to avoid paying taxes on that distribution. A 2020 RMD that qualified as a coronavirus-related distribution may be repaid over a 3-year period or have the taxes due on the distribution spread over three years.

A 2020 withdrawal from an inherited IRA could not be repaid to the inherited IRA but may be spread over three years for income inclusion. For more information see the Coronavirus Relief for Retirement Plans and IRAs page.

Taxpayers can find forms, instructions, publications, Frequently Asked Questions regarding Required Minimum Distributions and other easy-to-use tools at IRS.gov.