TAXES

Cash and income tax forms.
Pictures of Money / Creative Commons / flickr.com/photos/pictures-of-money

With the new year comes a new tax code, and some nonprofits are concerned changes to the tax law could mean fewer donations in 2018.

Cash and income tax forms.
Pictures of Money / Creative Commons / flickr.com/photos/pictures-of-money

For the second straight year, the Massachusetts income tax rate will not automatically drop in 2018.

When you file your 2018 income taxes, you might notice that the standard deduction has essentially doubled. Exemptions will likely be eliminated and in its place, you might see a larger tax credit per dependent claimed. But it also raises at least one other big question: will you give as much to charity?

Republicans in Congress are promising that their tax bill will create jobs. One place where we know it's going to create a lot of work is at the IRS.

That agency will have to figure out how to interpret and implement the hundreds of pages of changes to the tax code that were just passed, at a time when it is already struggling with budget cuts and staff reductions.

The Trump administration says it's already working with the IRS to update tax forms and withholding tables, promising that most taxpayers will notice a difference in their pay stubs by February.

Updated on Dec. 22 on 12:02 p.m. ET

Congressional Republicans delivered on their first major legislative accomplishment of the Trump era on Wednesday, when the House voted 224-201 to pass a $1.5 trillion tax package. The bill cuts individual rates for eight years and slashes the top corporate tax rate to 21 percent permanently.

Updated at 1:26 a.m. ET Wednesday

Republicans in Congress approved a sweeping and controversial $1.5 trillion tax overhaul, with the Senate voting early Wednesday along straight party lines to move the measure forward.

On Nov. 27, the Council of Churches of Western Massachusetts hosted a summit on church security. Pictured, Assistant US Attorney Kevin O'Regan, left, talks to attendees.
Sean Teehan / NEPR

This December marked five years since the murders at Sandy Hook Elementary School in Newtown, Connecticut. Twenty first-graders and six adults were gunned down. 

Updated on Dec. 20 at 3:50 p.m. ET

The Republican tax bill, which Congress sent to President Trump on Wednesday, would give most Americans a tax cut next year, according to a new analysis. However, it would by far benefit the richest Americans the most. Meanwhile, many lower- and middle-class Americans would have higher taxes a decade from now ... unless a future Congress extends the cuts.

Updated on Dec. 20 at 4 p.m. ET

Congressional Republicans handed their party and the president a major legislative victory when they passed their tax cut plan.

Updated at 7:29 p.m. ET

In making his "closing argument" for tax legislation expected to get a vote in Congress next week, President Trump announced that the changes would take effect early next year.

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