Post Content

Filing season is barely three weeks old and the story so far is refunds, with the volume and amount paid to taxpayers way up over a year ago.

As of Saturday, DOR had issued 287,179 refunds worth $147.5 million, for an average refund of $514. As of the same date a year ago, DOR had issued 200,766 refunds worth $106.2 million, for an average refund of $529.

DOR has paid out $41.3 million more in refunds than at the same time a year ago.

There appears to be a ready explanation for this jump. A year ago, the IRS advised tax filers who itemize deductions to wait until mid-February for the release of revised tax tables. Apparently, a lot of taxpayers took the IRS advice.

Interestingly, the January revenue report DOR released on Feb. 3 showed refunds running $47 million ahead of January 2011. In fact, if refunds had come in as forecast, January revenue would have finished $2 million above benchmark rather than $44 million below. Now, that's sort of like saying the Patriots would have won yesterday if Wes Welker had made a catch — shoulda, coulda, woulda doesn't cut it in football, and it doesn't work in revenue collection either. But it's still worth mention.

So far, 375,676 taxpayers have filed, up 118,600 over a year ago. The vast majority of those, 355,598, have filed electronically.

The number of Senior Circuit Breaker Tax Credits issued has risen from 2,045 a year ago to 3,979 this year, and the amount of credits returned to taxpayers has risen from $1.6 million a year ago to $3.2 million this year. The average credit is up $26, from $772 last year to $798 this year.

The number of Earned Income Tax Credits issued has risen from 106,614 a year ago to 124,999 this year, and the amount of credits returned to taxpayers has increased from $39.6 million last year to $46.4 million this year. The Commonwealth matches 15 percent of the federal EITC credit.

As is always the case, the quickest way to get your refund is to have it direct deposited; that will take an average of 3.2 business days, rather than 5.2 days it takes to issue a paper refund check

Written By:

Recent Posts

VIDEO: Introducing MassTaxConnect! posted on Aug 24

Take a look at our newest video introducing you to MassTaxConnect, our new, modernized online tax system. Hear from Commissioner Mark Nunnelly and several DOR employees about what to expect come November 30th when we launch MassTaxConnect for business taxpayers, practitioners, and professionals. Get an   …Continue Reading VIDEO: Introducing MassTaxConnect!

What’s New with MassTaxConnect? posted on Aug 13

MassTaxConnect for Massachusetts Business Taxpayers  Available November 30, 2015!   Things are about to get easier and faster for Massachusetts business taxpayers.  MassTaxConnect will replace WebFile for Business later this year and will feature the best of what WFB offers plus state-of-the-art enhancements to make tax   …Continue Reading What’s New with MassTaxConnect?

F.A.Q. Everything you Need to Know about the Sales Tax Holiday posted on Aug 10

Last week the state legislature passed and Governor Charlie Baker signed into law the Sales Tax Holiday that will officially suspend the state’s 6.25% sales tax for the upcoming weekend of August 15th and 16th. State policymakers have passed an annual summer’s sales tax holiday   …Continue Reading F.A.Q. Everything you Need to Know about the Sales Tax Holiday