Taxes

An end to the formal session on Beacon Hill left Boston Mayor Michelle Wu’s property tax plan in question. “I can’t overemphasize how important this is for the city,” Wu told NBC10 Boston. Empty office buildings are causing commercial property values to plummet and creating a revenue vacuum that without action, would fall on Boston homeowners. “It’s to the...

Coca-Cola Co. says it will pay $6 billion in back taxes and interest to the Internal Revenue Service while it appeals a federal tax court decision in a case dating back 17 years.

The milestone is meant to showcase how the agency is making use of the money it received as part of the Biden administration’s Inflation Reduction Act. It comes as Republicans threatened cuts to the IRS.

Tax identity theft victims are waiting nearly two years for resolution and refunds from the IRS. But the agency is working on improvements.

The head of the Internal Revenue Service just wrapped up his first year with the agency and he is on the road.  He recently made a stop at our NBC10 Boston studios. “I’m sitting here, getting the word out, as the IRS commissioner urging residents of Massachusetts and beyond to be wary, to be skeptical that scams are on...

The Internal Revenue Service plans to end another major tax loophole that could raise more than $50 billion in revenue over the next decade.

The Massachusetts House and Senate on Thursday adopted a resolution setting the weekend of Aug. 10-11 as this year’s sales tax holiday. The annual tax holiday enables shoppers to avoid the sales tax on many purchases, although critics say it doesn’t generate much new economic activity and merely shifts consumer buying patterns. Over the years, public officials have settled...

You could leverage tax planning strategies after unemployment if your income is lower in 2024, experts say. Here’s what to know.

The City of Boston has a property tax problem. Commercial buildings once filled with workers have seen an exodus in the wake of the COVID-19 pandemic, experiencing a drop in value and putting a strain on tax revenues. “We want to make sure the residents can stay in Boston,” said District 5 City Councilor, Enrique Pepen. “If we do nothing…

The IRS announced that Direct File, a free tax-filing option for simplified tax returns, will be a permanent option starting next year.

On this Tax Day, refunds are looking a bit bigger for taxpayers.

If you can’t pay your taxes by April 15, you have “options,” according to the IRS. Here’s what to know about payment plans.

Tax pros say there are a few tips parents should keep in mind when filing their tax returns this year.

There are lots of things college students and their parents should keep in mind before filing their taxes.

Will the IRS fine you? Here’s what could happen if you fail to file your taxes by April 15 and how to request an extension.

With one week until the tax deadline, the IRS has added an “important update” for Direct File, the agency’s free tax filing program. Here’s what to know.

The IRS provides some options if you are unable to file your tax return on time.

According to the IRS, there’s an estimated $1 billion in unclaimed refunds from the tax year 2020, belonging to approximately 940,000 taxpayers.

Scammers look for ways to trick people into giving them money year-round, but tax season can be particularly fraught. What you need to know.

There may be a deduction for contributions to a pretax individual retirement account, spousal IRA or health savings account.