21
Jan

Tax Lawyers Massachusetts Keep Residents Updated Regarding Tax Changes

by Tax Law MA in Common Knowledge

Taxpayers who have filed for federal income tax return extensions should familiarize themselves with tax changes. There are several new laws and others that have been modified over the past year. They apply to taxpayers in every state, but residents of Massachusetts can bring themselves up to speed by hiring tax lawyers Massachusetts. These professionals will update them regarding changes in federal and state laws that affect tax returns.

One of the new changes applies to taxpayers who purchased new motor vehicles between February 17, 2009 and December 31, 2009. These individuals are entitled to deduct the state and local excise taxes that they were charged when they purchased their vehicle. In states that do not impose sales tax, the person may deduct certain other fees and taxes. These deductions may be taken as an itemized deduction or may be used to increase the amount of the standard deduction.
Keep reading »