DOR News - February 2025

Massachusetts Department of Revenue matters of interest for February 2025.

New Tax Changes for Tax Year 2024

As we do every year, we outlined the key tax law changes to personal income tax and corporate excise. Some of those changes include updates to the MA joint filing requirement, the repeal of the deduction of interest from Massachusetts banks, and an increase to the Child and Family tax credit. View all the updates on the 2024 Personal Income and Corporate Excise Tax Law Changes page.

Direct Deposit for a Faster Refund

Getting a tax refund promptly is likely at the top of every taxpayer’s list. One way to do that is by choosing to have your refund direct deposited in your bank account. Once your return has been processed and your refund has been issued, you may receive your tax refund in as little as 5 business days.

Tax Pros: Fill Us in on What You’re Seeing and Hearing

As tax professionals, your hands-on work and interactions in the field are valuable sources of information for us. We want to know what you’re seeing and hearing from clients this tax season about their filing experience. Please email us at [e-mail] with your observations. Also, to ensure you’re ahead of the curve, we hope you bookmark the Information for Tax Professionals page. It’s a landing page for all things Tax Pro, including Hot Topics for Tax Professionals, like updated AGI calculations and more.

Entity Tax Status Reminder – Property Tax Exemptions

We’re back with our annual reminder that April 1, 2025, is the deadline to electronically file the annual Certification of Entity Tax Status with DOR. DOR publishes the Corporations Book annually, which lists corporations or business entities taxable as corporations as of January 1. Municipal assessors use the book to determine whether entities are eligible for local personal property tax exemptions as corporations.

Choose Your E-file Option

There are plenty of e-filing options available this season. DOR is partnering with the IRS for the second year to offer Direct File for MA taxpayers to file both their federal and state tax returns or choose another free file offer from a software vendor If you are filing a MA tax return only, check out free filing with MassTaxConnect. Free tax preparation opportunities are available as well. Various organizations in the Commonwealth offer free or low-cost tax preparation and/or legal assistance.

Prior DOR News Issues

If you missed a prior issue, visit DOR News. Also check out DOR's Tax Professionals page.

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