20

Page 20 THE REVERE ADVOCATE – FRIDAY, SEPTEMBER 22, 2023 By Bob Katzen If you have any questions about this week’s report, e-mail us at bob@beaconhillrollcall.com or call us at (617) 720-1562 GET A FREE SUBSCRIPTION TO MASSTERLIST – Join more than 22,000 people, from movers and shakers to political junkies and interested citizens, who start their weekday morning with MASSterList—the popular newsletter that chronicles news and informed analysis about what’s going on up on Beacon Hill, in Massachusetts politics, policy, media and infl uence. The stories are drawn from major news organizations as well as specialized publications selected by widely acclaimed and highly experienced writers Keith Regan and Matt Murphy who introduce each article in their own clever and inimitable way. MASSterlist will be e-mailed to you FREE every Monday through Friday morning and will give you a leg up on what’s happening in the blood sport of Bay State politics. For more information and to get your free subscription, go to: https:// lp.constantcontactpages.com/su/ aPTLucK THE HOUSE AND SENATE: There were no roll calls in the House or Senate last week. TAX REDUCTION PACKAGES ARE STUCK IN COMMITTEE – It’s been three months since the House and Senate created a conference committee to hammer out a compromise version of diff erent tax relief packages approved by each branch. Here’s the timeline of the bill which was fi rst approved by the House fi ve months ago. April 13: House approves $1.1 billion in tax relief. June 15: Senate approved its own $590 million tax relief package. June 20: A conference committee is appointed to hammer out a compromise version of the two bills. Gov. Healey last week said the tax package is high on the Fall agenda. “Our job is not done until that tax package is done,” Healey said. This week, Beacon Hill Roll Call reviews how local representatives votes on several roll calls on tax reductions. $1.1 BILLION TAX CUT PACKAGE (H 3770) House 150-3, approved a $1.1 billion tax relief package. Provisions include combining the Child Care Expenses Credit with the Dependent Member of Household Credit to create one refundable $600 credit per dependent, while eliminating the current cap; exempt the fi rst $2 million, instead of the current $1 million of the value of a person’s estate from the state’s estate/death tax that a person is required to pay following their death before distribution to any beneficiary; double the Senior Circuit Breaker Tax Credit from $1,200 to $2,400; increase the rental deduction cap from $3,000 to $4,000; reduce the short-term capital gains tax rate from 12 percent to 5 percent; raise the Earned Income Tax Credit from 30 percent to 40 percent of the federal credit; and replace the current business tax from the 3-factor apportionment based on location, payroll, and receipts with a single sales factor apportionment based solely on receipts. Another provision changes the tax refund distribution formula under a current law, known as 62F, that requires that annual tax revenue above a certain amount collected by the state go back to the taxpayers. Under current law, the money is returned to taxpayers based on how much he or she paid in 2021 taxes, while this tax relief package changes the formula and provides a fl at rate refund, unrelated to what the individual paid in taxes. The measure would also change a current law that provides when the state’s Stabilization Fund, also known as the Rainy Day Fund, exceeds 15 percent of budgeted revenues, the excess is transferred to the Tax Reduction Fund which eventually is returned to taxpayers. The Democrats’ tax relief bill would raise that percent to 25.5 percent. (A “Yes” vote is for the $1.1 billion in tax relief. A “No” vote is against it.) Rep. Jessica Giannino Rep. Jeff Turco Yes Yes HOW TO DISTRIBUTE SOME FUTURE TAX REFUND (H 3770) House 26-128, rejected an amendment that would change the current law (known as 62F), approved by voters on the 1986 ballot, which requires that annual tax revenue above a certain amount collected by the state go back to the taxpayers. A few months ago, the law resulted in $2.9 billion being returned to taxpayers, using a formula based on how much each taxpayer paid in income taxes in 2021. In the House $1 billion tax reduction bill, the formula is changed so that each taxpayer will receive a fl at rate refund, unrelated to what they paid in taxes. The amendment would strike the change and revert back to the refund based on what a person paid in income taxes in 2021. (A “Yes” vote is for the amendment distributing the refund based on what each taxpayer paid in taxes. A “No” vote is against the amendment and favors a fl at rate refund of the same amount for each taxpayer.) Rep. Jessica Giannino Rep. Jeff Turco No Yes RAISE TRIGGER POINT FOR TAX REFUND (H 3770) House 25-129, rejected a Republican amendment to a section of the Democrats’ tax relief bill that would change a current law that provides when the state’s Stabilization Fund, also known as the Rainy Day Fund, exceeds 15 percent of budgeted revenues, the excess is transferred to the Tax Reduction Fund which eventually is returned to taxpayers. The Democrats’ tax relief bill would raise that percent to 25.5 percent. The Republican amendment would eliminate that change and revert to the current 15 percent formula. (A “Yes” vote is for the amendment making the cap 15 percent. A “No” vote is against the 15 percent cap and favors the 25.5 percent cap.) Rep. Jessica Giannino Rep. Jeff Turco No No TAX REVENUE FROM MILLIONAIRE’S TAX (H 3900) House 25-132, rejected an amendment that would remove a section in the budget that exempts tax revenue generated from the recently voter-approved Millionaire Tax from counting toward the allowable state tax revenue limitations, under Chapter 62F, which provides that whenever revenue collections in a fi scal year exceed an annual cap tied to wage and salary growth, the excess is returned to taxpayers. Last year, $3 billion in refunds were returned to taxpayers when the law was triggered for just the second time since its passage in 1986. The revenue from the Millionaire Tax is deposited into the new Education and Transportation Stabilization Fund. (A “Yes” vote is for the amendment that favors tax revenue generated from the recently voter-approved Millionaire Tax counting toward the allowable state tax revenue limitations. A “No” vote is against the amendment and supports exempting the revenue from the allowable state tax revenue limitations.) Rep. Jessica Giannino Rep. Jeff Turco No No ALSO UP ON BEACON HILL REQUIRE STATE AGENCIES TO INCREASE LANGUAGE ACCESS – Gov. Maura Healey signed an executive order instructing all state agencies to conduct a thorough assessment of their language access capabilities and develop a plan for improvement. The order is designed to make the delivery of services and resources more accessible and equitable for residents with limited English profi ciency. “Everyone in Massachusetts, regardless of what language they speak, deserves equitable access to government services and resources, but we recognize that language often poses a major barrier,” said Gov. Healey. “This executive order will help break down language barriers and bridge gaps … We’re proud to take this important step toward making state government more accessible and equitable during Hispanic/Latino Heritage Month.” “One in four Massachusetts residents speak a language other than English – which underscores why this executive order is so critical,” said Lt. Gov. Kim Driscoll. “It is essential that we are setting people up for success NOTICE OF FEDERAL TAX LIENS A federal tax lien represents the U.S. government’s legal claim against your property in the event a substantial federal income tax is unpaid. Such a lien is good against all of your property, even after-acquired property. If a Notice of Federal Tax Lien (NFTL) is fi led at the registry of deeds where the taxpayer owns real estate, it will serve as a lien against the real estate which would result in you not being able to borrow money from a bank or to sell the real estate to a third party unless the lien is paid off with bank fi - nancing or if the lien is refl ected as a liability on the disclosure statement at the closing on a sale transaction and deducted from the seller’s sales proceeds. IRS Form 668, Notice of Federal Tax Lien, will include the name of the taxpayer, the serial number of the NFTL, the type of tax, the tax period(s), last four digits of the taxpayer’s social security number, the date of assessment, the date of refiling, the amount of unpaid taxes, the book and page number as well as the date of recording at the applicable registry of deeds where the taxpayer owns real estate, the date of the NFTL, and the name of the IRS Revenue Offi cer. If the IRS does not refi le the NFTL within 10 years and 30 days of the date of assessment, the lien will expire as a matter of law. In these situations, often the debt per the IRS records would be automatically wiped clean. I have seen on many occasions where the taxpayer waits out the 10 year, 30 day period, and the debt no longer appears within the IRS system. If the IRS does not believe collection is probable, the debt collection activities most likely will not pursued. However, if the IRS has a lien against known real estate, it may very well refi le the NFTL. The IRS generally has 10 years from the date of assessment to collect a federal income tax. The IRS does not need to obtain a judgment against you in a court of law in order to fi le the NFTL. This is unlike a judgment lien which is fi led pursuant to a court rendering an opinion against a debtor or defendant in a lawsuit. 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. by ensuring that they are able to read and engage with information provided by their state government. This … will help us work to ensure that all residents have the chance to get their questions answered and interact with their government in a way they understand. I am excited to see the implementation of strong language access plans across our state agencies and all the benefi ts this will bring to our state.” PROHIBIT DIVIDING CHILDREN’S TOYS BY GENDER (H 199) – The Children, Families and Persons with Disabilities Committee held a hearing on a proposal that would prohibit retail stores with more than 500 employees from dividing the display of toys for children under the age of 14 into sections by gender. The bill gives stores 30 days to correct any violation or be subject to a $1,000 civil penalty. “Toys are just that, toys,” said sponsor Rep. Jack Lewis (D-Framingham). “They have no gender and families should be invited to shop without outdated gender norms dictating which aisles are intended for one gender over another. There is nothing inherently masculine about Legos and nothing inherently feminine about Easy-Bake Ovens. The companies themselves know this, it is time for major retailers to follow the lead of stores like Target and the state of California in letting kids simply play.” MANDATORY DIAPER CHANGING STATIONS (H 209) – Another bill heard by the Committee on Children, Families and Persons with Disabilities would require public buildings and places of public accommodation to provide a private or semi-private diaper changing station accessible to all caretakers of children, regardless of sex, gender or disability. The requirement would apply only to new construction of public buildings or places of public accommodation and those undergoing significant renovation. Signage indicating BEACON | SEE Page 22

21 Publizr Home