MA DOR – Letter of Assessment

by | Jan 5, 2021

IRS Notice 1444 (EIP)

Keep Your 2020 Economic Impact Payment notice with other tax records   People who received an Economic Impact Payment this year (2020) should keep Notice 1444, Your Economic Impact Payment, with their tax records. This notice provides information about the amount...

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If the Caronavirus has had negative effects on your finances, temporary changes to the rules under the CARES Act may give you more flexibility to make an emergency withdrawal from tax-deferred retirement accounts during 2020. 

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Going Alone to Medical Appointments May Be Dangerous to Your Health?   Here’s a chapter out of Anne’s relationship with Joe and Elaine of Pinehills Tax Services and ardent believers in Seniors Helping Seniors! If you would like to read the back story on our...

Senior Circuit Breaker (CB) Tax Credit – 2020

Senior Circuit Breaker Tax Credit Certain seniors who own or rent residential property as their principal residence are eligible for a refundable tax credit. Find out if you qualify. Page updated: September 25, 2020.  What to know As a senior citizen, you may be...

Heads Up!

We have learned that the MA DOR seems to be actively sending out more of their Letters of Assessment. This could be Covid related since the state is not bringing in as much tax revenue as forecasted. Regardless, you need to be aware that if you owe the state money for underapayment of your annual tax bill, they can charge a penalty and ask you to submit estimated payments to cover the underpayment of taxes going forward.