Taxes

You still have time to lower your 2024 tax bill or boost your refund before January, according to financial advisors. Here’s what investors need to know.

Trillions in Trump’s tax cuts will expire after 2025 without action from Congress. Here are key lessons from his 2017 tax overhaul.

IRS leadership on Thursday announced that the agency has recovered $4.7 billion in back taxes and proceeds from a variety of crimes.

After a controversial property tax bill from Boston hit a dead end this week following months of back and forth between Beacon Hill and City Hall, Boston Mayor Michelle Wu said Wednesday that the “intensive process” of working with Massachusetts lawmakers to get the local policy approved only to be shot down by the Senate in the eleventh hour was…

Adidas’ German headquarters was raided as authorities investigate a yearslong tax concern.

A Boston senator delayed action on a controversial home rule petition for the second time this week, pushing consideration off after new data emerged about the city’s property tax outlook. Sen. Nick Collins, a South Boston Democrat, used a parliamentary maneuver Thursday to prevent action on the House-approved plan Mayor Michelle Wu has been seeking for months to temporarily...

Boston residents face the prospect of a 28% quarterly property tax increase if Mayor Michelle Wu’s plan to temporarily raise taxes on businesses doesn’t get approved in the state Senate.

The Massachusetts House on Monday approved the City of Boston’s request to temporarily reconfigure the way it splits property taxes between commercial and residential taxpayers. Norwell Rep. David DeCoste slowed the bill’s advancement on Thursday and Friday but was not in the House chamber when Democrats put the bill up for a vote at the immediate outset of their...

Whichever party wins control of the House and Senate must decide how to handle a slew of consequential policy matters.

A plan to temporarily shift more of Boston’s property tax burden onto commercial owners is headed back to Beacon Hill after the City Council approved a revised version with a lone objection. The council voted 12-1 Wednesday to approve a new home rule petition that would enable the city to move more of the city’s property tax burden onto...

There’s still time to lower your taxes or boost your refund for 2024, financial experts say. Here are some strategies to consider before year-end.

The news came Wednesday of long-awaited progress on an issue impacting homeowners across Boston: Property tax bills at risk of rising due to falling commercial property values. Mayor Michelle Wu announced the temporary tax shift following agreement with major business groups. “We want to make sure residents don’t have a major residential tax spike come January,” Wu said Thursday....

City officials say the compromise temporary tax hike to make up for empty office space post-COVID is necessary, though critics say a long-term solution for city revenue is needed.

Mayor Michelle Wu announced that she’s reached a deal to temporarily raise tax rates for local businesses amid a revenue shortfall. 

With her existing proposal hung up on Beacon Hill, Boston Mayor Michelle Wu said Wednesday that she’s sending a new proposal to the State House that she believes will “stabilize property taxes and protect homeowners and renters from a dramatic spike.” The Massachusetts House in July approved a home rule petition from the City of Boston designed to shift...

The IRS has announced new changes affecting the earned income tax credit, child tax credit, adoption credit and annual gift tax exclusion for 2025.

The IRS has announced higher federal income tax brackets and standard deductions for 2025. Here’s what taxpayers need to know.

With her proposal to address the impending increase stalled in the Senate, Boston Mayor Michelle Wu’s office said city residents’ taxes could increase 28%— a large quarterly jump but less than originally estimated — unless senators on Beacon Hill act on her plan to shift more of the city’s tax burden onto businesses by late November. “It affirms that this…

Will the IRS “give you your money!?” Watch this explainer to see if you will qualify for the federal child tax credit.

The Biden administration has proposed a new rule that would require the largest U.S. companies to pay at least 15% of their profits in taxes.