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Page 14 THE REVERE ADVOCATE – FRIDAY, FEBRUARY 5, 2021 THE HOUSE AND SENATE: BeaRECOVERY REBATE CREDIT The Recovery Rebate Credit was authorized by the CARES act and the related COVID-related Tax Relief Act. It is a tax credit to be applied towards your 2020 federal income tax. It will serve to either increase your federal refund or reduce the amount that you owe the IRS. The Recovery Rebate Credit was eligible to be paid in two rounds of advance payments during 2020 and 2021. These advance payments are referred to as the fi rst and second Economic Impact Payments. Taxpayers that received the full amount of both Economic Impact Payments do not need to complete any information about the Recovery Rebate Credit on their 2020 income tax return. Your first economic impact payment would have been $1,200 ($2,400 if married fi ling jointly) plus $500 for each qualifying child you had in 2020. Your second economic impact payment would have been $600 ($1,200 if married fi ling jointly) plus $600 for each qualifying child you had in 2020. A qualifying child must have been under the age of 17. To determine if you are eligible for the Recovery Rebate Credit, complete the Recovery Rebate Worksheet in the instructions for Form 1040 or Form 1040-R. You would not be eligible if you received the full amount of the fi rst and second Economic Impact Payments. You are not eligible for the tax credW ith today’s edition, The Revere Advocate begins covit if you are claimed as a dependent on another’s tax return. You must file Form 1040 or Form 1040-R in order to claim the credit, even you are otherwise not required to fi le a tax return. Your Recovery Rebate Credit will be entirely phased out if your adjusted gross income exceeds $150,000 if you are married filing jointly, $112,500 if you are fi ling as head of household, and $75,000 if you are fi ling single. You should have received IRS Notice 1444 for the fi rst Economic Impact Payment and Notice 1444-B for the second Economic Impact Payment. Refer to them when completing your tax return or provide to your tax preparer. This is necessary in order to determine what advance payments were actually received and what, if any, tax credit you are entitled to on your 2020 federal income tax return. Taxpayers with an account on the IRS. gov/account website will be able to view the amounts of the Economic Impact payments already received. You may also need your 2019 adjusted gross income fi gure in order to complete the worksheet. Joseph D. Cataldo is an Estate Planning/Elder Law Attorney, Certifi ed Public Accountant, Certifi ed Financial Planner, AICPA Personal Financial Specialist and holds a Master’s Degree in Taxation. erage of the roll call votes of local legislators in the 2021 Massachusetts legislative session with our weekly Beacon Hill Roll Call report. This feature is a clear and concise compilation of the voting records of local state representatives and senators. Beacon Hill Roll Call provides an unbiased summary of bills and amendments, arguments from fl oor debate on both sides of the issue and each legislator’s vote or lack of vote on the matter. This information gives readers an opportunity to monitor their elected offi - cials’ actions on Beacon Hill. Many bills are reported on in their early stages, giving readers the opportunity to contact their legislators and express an opinion prior to the measure being brought up for fi nal action. The feature “Also Up on Beacon Hill” informs readers of other important matters at the Statehouse. Beacon Hill Roll Call is written and provided by Owner/Publisher Bob Katzen who hosts a fun and light Boston radio talk show on WMEX Radio 1510 AM and online. Bob has been providing this feature to hundreds of newspapers across the Bay State for 46 years—since 1975. He claims he is still young and was only two years old when he started the business. Fun Fact: Bob invented the “Bagel Route” when he was a mere 10 years old. It’s like a paper route, but Bob took pre-orders from neighbors and delivered fresh bagels and cream cheese every Sunday morning. A note from Bob Katzen, Publisher of Beacon Hill Roll Call: My guest on Sunday, February 7 on my WMEX 1510 AM Radio and online show will be Jay Gordon, a nationally known Elvis expert who hosted a renowned weekly nationally syndicated radio show titled “Elvis Only.” The show was all about the music and life of the King of rock ’n’ roll. Jay was also a disc jockey at the former Oldies 103 Radio, WZLX and many other Boston radio stations. His knowledge about and love for Elvis is unsurpassed. There are many ways you can listen to the show from anywhere in the world: • If you have a smart speaker, simply say, “Play WMEX on RADIO.COM” • Download the free RADIO.COM app on your phone or tablet • Listen online at: www.radio. com/1510wmex/listen • Tune into 1510 AM if you still have an AM radio • Visit us at www.bobkatzenshow.com con Hill Roll Call records local representatives’ votes on a roll call from the week of January 25-29. There were no roll calls in the Senate last week. CLIMATE CHANGE (S 9) House 144-14, Senate on a voice vote without a roll call, approved and sent to Gov. Charlie Baker a 57-page climate change bill. A key section makes the state’s greenhouse gas emissions reduction goal net zero by 2050. The bill is sponsored by Sen. Mike Barrett (D-Cambridge) and Rep. Thomas Golden (D-Lowell) who led the successful charge for legislative approval of the legislation for several months in 2020. An identical measure had passed the House 145-9 and the Senate 38-2 in 2020—margins that were large enough for the Legislature to easily override any gubernatorial veto. But it was too late for that. The 2020 Legislature ended on January 5 and under legislative rules, any vetoes made, or amendments proposed, by the governor after that time could not go back to the Legislature for an override or consideration. So the bill died on the governor’s desk. “While I support the bill’s goals and am largely in agreement with many of its proposals, 35 hours was not enough time to review and suggest amendments to such complex legislation,” said Baker in his message. “Had this bill been presented to me with more time while the Legislature was still in session, I would have returned it with amendments to address the concerns. Unfortunately, because the Legislature has adjourned, I do not have that option, and therefore, reluctantly, I cannot sign the legislation as currently written.” “The Massachusetts economy is just beginning to recover from the pandemic downturn caused by the novel coronavirus known as COVID-19,” Baker continued. “As we are all learning what the future will hold, I have concerns about the impacts portions of this bill will have for large sectors of the economy.” Other provisions in the measure codify environmental justice provisions into Massachusetts law by defi ning environmental justice populations and providing new tools and protections for aff ected neighborhoods; provide $12 million in annual funding for the Massachusetts Clean Energy Center to create a pathway to the clean energy industry for environmental justice populations and minorityowned and women-owned businesses; require an additional 2,400 megawatts of off shore wind and increase the state’s total authorization to 5,600 megawatts; set appliance energy effi ciency standards for a variety of common appliances including plumbing, faucets, computers and commercial appliances and set benchmarks for the adoption of clean energy technologies including electric vehicles, charging stations, solar technology, energy storage and heat pumps. “If not for the initiative and resolve of Speaker Mariano and Senate President Spilka … the bill would not have been before the Legislature in the fi rst month of the 2021-2022 session,” said Rep. Tom Golden (D-Lowell), House Chair of the Committee on Telecommunications, Utilities and Energy. “I am beyond proud to have once again voted with my colleagues on this path-breaking legislation and I look forward to continued collaboration to make it law and propel the commonwealth towards its clean energy future.” “I believe it’s our collective responsibility to be good stewards of the environment and empower entrepreneurs to develop innovative solutions for cleaner energy production,” said Rep. Nicholas Boldyga (R-Southwick). “Unfortunately, this climate bill is another example of the political class implementing mandates that hurt the poor and middle class. A housing market that is already out of reach for many will become even more inaccessible. The cost of everyday goods will increase. Being good stewards of our environment does not need to come at such high cost, hurting the most vulnerable.” “By sending last session’s climate bill back to Gov. Baker’s desk, the House and Senate have taken an important step forward, but further action is needed to ensure a safe, healthy future,” said Ben Hellerstein, State Director for Environment Massachusetts. “Let’s clear the decks of last session’s business by passing this bill into law, and then let’s turn our attention to the other important climate policies awaiting action. Here’s hoping 2021 is the year Massachusetts sets its sights on 100 percent renewable energy.” “I am an advocate for protecting the environment, but we need a commonsense approach,” said newly-elected Rep. Kelly Pease (R-Westfi eld). “There needs to be a balance between becoming greener and protecting our businesses and economy. Reducing emissions by 40 percent instead of 50 percent by 2030 would have less of an impact on businesses and our economy and still allow us to reach our goals by 2050. There are a few issues with the current bill that need to be addressed so it will not be cost prohibitive for businesses and families while moving forward to a more environmentally friendly commonwealth.” “Massachusetts Climate Action Network (MCAN) applauds the Legislature for taking leadership on quickly returning the … bill to the governor [who] now has the opportunity to pass the most progressive piece of climate legislation in Massachusetts in over a decade,” said Rebecca WinterichKnox, The Better Buildings CamBEACON | SEE Page 15

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