It’s Tax Season. Here’s How You Can Save.

Now the most generous Child and Family Tax Credit in the country, Governor Healey increased the credit from $180 per dependent child, adult with disabilities or senior to $440 and lifted the two-dependent cap.

Governor Healey increased the Senior Circuit Breaker Tax Credit and as a result the maximum credit for tax year 2024 is $2,730. The administration’s tax package also increased the Earned Income Tax Credit from 30% to 40% of the federal credit.

Governor Healey’s tax package includes many other credits and deductions for renters, commuters, student borrowers, and more. You can learn more about personal income tax credits and business tax credits.

Massachusetts tax returns are due on or before April 15, 2025, unless you qualify for an extension. You may be eligible to file state and federal returns online for free through MassTaxConnect and Direct File via the IRS. 

The Massachusetts Department of Revenue has also compiled a list of Free File Alliance vendors and approved tax software available to residents. A tax professional can help you prepare your taxes, and you may qualify for free or low-cost filings. Click here to find a tax professional. 

Governor Healey’s tax package also included several provisions that may benefit your business. To learn how to register your business with MassTaxConnect and more resources to help with your business taxes, click here or the link below.