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Blog Post  What You Need to Know This Filing Season

3/05/2025
  • Massachusetts Department of Revenue
An individual preparing for the tax filing season.

Tax season can be easier with the correct information. As you prepare to file your taxes, here are some current updates and changes to keep in mind.

Filing Season Video

The Filing Season video includes the following:

  • 0:11: Introduction: Sharen Brown
  • 3:14: Recent Legislative Changes and DOR Initiatives: Mireille Eastman
  • 8:08: Recent Legislative Changes and DOR Initiatives: Finn Allen
  • 12:48: Recent Legislative Changes and DOR Initiatives: Krystle Lyles
  • 15:22: What's new on 2024 Forms & Schedules: Dannielle Colwell
  • 19:00: Helpful Hints: Michelle McLeod
  • 23:26: Updates to Popular Credits: Darryl Jenkins
  • 27:37: How to Stay Informed and Contact DOR: Mireille Eastman

The Resources (PDF) is an A-Z guide for your tax filing and informational needs.

Free E-Filing Options

The deadline for filing state income and fiduciary tax returns for Massachusetts taxpayers is April 15, 2025.

Below are your E-file options, including free offers:

2024 Personal Income and Corporate Excise Tax Law Changes

2024 Personal Income Tax Rates

  • The tax rate on most classes of taxable income is 5%.
  • The tax rate on long-term gains from the sale or exchange of collectibles is 12% (subject to a 50% deduction).
  • For tax years beginning on or after January 1, 2023, the tax rate on short-term gains from the sale or exchange of capital assets is 8.5%.

Learn more:

4% Surtax

Starting with tax year 2023, personal income taxpayers must pay an additional 4% (4% surtax) on taxable income over $1,000,000, increased annually for inflation (surtax threshold).

For the 2024 tax year, the threshold is $1,053,750.

Learn more:

  • TIR 23-12: Provisions in the Fiscal Year 2024 Budget Pertaining to the 4% Surtax and the Extension of the Brownfields Tax Credit
  • 4% Surtax FAQs

Changes to Massachusetts joint filing requirements

For tax years beginning on or after January 1, 2024, married couples must file a joint personal income tax return for any year they file a joint federal income tax return unless an exception applies.

Learn more:

Repeal of the Deduction of Interest from Massachusetts banks

Effective for taxable years beginning on or after January 1, 2024, the deduction previously allowed for a deduction of up to $100 ($200 for joint filers) of interest from Massachusetts banks is repealed.

Learn more:

Employer-Provided Parking, Transit Pass, and Commuter Highway Vehicle Benefits Exclusion Amounts

Massachusetts conforms to the federal income exclusion for employer-provided parking, transit pass, and commuter highway vehicle transportation benefits.

The IRS has determined that the 2024 inflation-adjusted monthly exclusion amounts are:

  • $315 for employer-provided parking and
  • $315 for combined transit pass and commuter highway vehicle transportation benefits.

Annual Update of Circuit Breaker Tax Credit for Seniors

Taxpayers aged 65 or older who own or rent residential property located in Massachusetts are allowed a credit equal to the amount by which their total real estate tax payments, or 25% of their rent in the case of a renter, exceed 10% of the taxpayer’s total income.

The credit cannot exceed a certain maximum amount, which is determined by multiplying a statutory base amount by a cost-of-living adjustment for the calendar year in which the taxable year begins.

The maximum credit for tax year 2024 is $2,730.

The credit amount is subject to limitations based on the:

  • taxpayer’s total income and
  • assessed value of the real estate, which for tax year 2024 must not exceed $1,172,000.

To calculate the credit, the total income and maximum credit thresholds are adjusted annually for inflation.

For tax year 2024, an eligible taxpayer’s total income cannot exceed:

  • $72,000 in the case of a single filer who is not a head of household filer
  • $91,000 in the case of a head of household filer and
  • $109,000 in the case of a joint filer.

To qualify for the credit, a taxpayer must:

  • be age 65 or older and
  • occupy the property as his or her principal residence.

Learn more:

E-file:

Child and Family Tax Credit

Effective for taxable years beginning on or after January 1, 2024, the refundable, non-transferable child and family tax credit (“CFTC”) for taxpayers who maintain a household that includes certain individuals increases from $310 to $440 for each such individual, with no limit to the number of such individuals that may qualify for the credit.

In addition, starting with tax years beginning on or after January 1, 2024, a noncustodial parent may claim the credit for a dependent child who is:

  • age 13 or older and
  • physically or mentally incapable of caring for himself or herself.

Learn more:

E-file:

Massachusetts Earned Income Tax Credit (EITC)

The Massachusetts EITC amount an individual can claim has increased from 30% to 40% of the federal credit, effective for taxable years starting on or after January 1, 2023.

Learn more:

E-file:

Temporary Authorized Training Tax Credit for Emergency Assistance

A new credit takes effect for tax years beginning on or after January 1, 2024. The credit is available to businesses that provide training to individuals receiving benefits through the Massachusetts Emergency Housing Assistance program.

The credit is:

  • equal to $2,500 for each such employee and
  • temporary.

It is available only for tax years, during which the emergency housing assistance program is subject to capacity limitations.

The credit is no longer available as of January 1, 2026.

Learn more:

  • TIR 24-7: Temporary Authorized Training Tax Credit for Emergency Assistance

Qualified Veterans Hire Tax Credit

For tax years beginning on or after January 1, 2024, the qualified veterans hire tax credit for qualified employers that hire eligible veterans increases from $2,000 to $2,500.

Learn more:

  • TIR 24-15, Tax Provisions in An Act Honoring, Empowering, and Recognizing Our Servicemembers and Veterans

Keep Informed

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Prior DOR News issues

If you missed a prior edition, visit DOR News. There’s also DOR's Tax Professionals page for more information.

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