March 15, 2024 | Vol. 53, Issue 5

The only bilingual Chinese-English Newspaper in New England

tax

Volunteer Income Tax Assistance (VITA) Center and Low-Income Taxpayer Clinic (LITC) in Boston Chinatown Are Ready to Help Everyone in MA During Tax Season and They’re Free

As the new tax season begins, individuals, families, and businesses alike find themselves struggling through the complexities of filing their taxes. Paying taxes is a fundamental aspect of civic responsibility,  not just a legal requirement but as a crucial contribution to the fabric of our society. Taxes finance public services and infrastructure, roads and schools, healthcare and national defense, and ultimately the safety and wellbeing of the community. Filing your taxes can present significant challenges, for individuals for whom English […]

The 2022 Tax Season is Here

As we celebrate the holidays and welcome the New Year, it is time to start thinking about your 2022 tax returns which are due on April 18th, 2023.   Listed below are the income thresholds for filing a tax return 2022: Single and under age 65: $12,950 Single and age 65 or older: $14,700 Married filing jointly and both spouses are under age 65: $25,900 Married filing jointly and one spouse is age 65 or older: $27,300 Married filing jointly […]

The Millionaires’ Tax: How Will It Affect the General Public?

The highest court in Massachusetts on June 22 cleared the millionaires’ tax question. The next step will be made by the Massachusetts voters on the November ballot. The official title for the “millionaires’ tax” is the “Fair Share Amendment,” which requires that for the domestic income over $1 million per year, the taxpayers will be adding a 4% tax. How will it help the rest of the public, in this case, the non-millionaires like us? According to the proposed amendment: […]

Free Tax Advice and Representation for Non-English Speaking People

Low-Income Taxpayer Clinics (LITC) assist low-income individuals who have a tax dispute with the IRS and the Mass  Dept of Revenue and provide education and outreach to individuals who speak English as a second language (ESL). According to the 2021 LITC Program Report from Taxpayer Advocacy Services, LITC represented 19,413 Taxpayers, brought 2,398 taxpayers into filing compliance, provided consultation or advice to 17,792 Taxpayers, and brought 2,990 taxpayers into collection compliance. The Asian American Civic Association (AACA) has launched the […]

From Dick’s Desk at the AACA LITC
(Asian American Civic Association Low Income Taxpayer Clinic)

Dear Dick I am a journeyman finish carpenter. I spent the whole week sorting through my lumber supply invoices and pay records for my construction helper. But….I am relieved.  I managed to file my income tax returns by the April 15 tax deadline this year. At the same time, I am worried that the IRS is going to audit me again. I’m being audited for last year.  When I went to my mailbox, I noticed a thick letter with the […]

If You’re Getting a Tax Return, Here’s Why You Should Skip the Check

As the 2022 tax filing season begins, the Internal Revenue Service is asking taxpayers to file tax return electronically and use direct deposit for refunds. Here’s why that would be a good idea: Using a direct deposit is the safest and most convenient way to receive a tax refund. Choosing IRS direct deposit is the fastest way for taxpayers to get their refund. Getting your refund electronically is secure. Since refunds are electronically deposited, there’s no risk of having a paper check stolen or […]

Taxes

AACA Launches New Low Income Taxpayer Clinic

On Monday, the Asian American Civic Association (AACA) announced the launch of the AACA Low Income Taxpayer Clinic (LITC) to support English as a second language speakers and low-income individuals who need assistance resolving tax disputes with the IRS. Headquartered at the AACA office on Tyler Street in Chinatown, the AACA LITC prides itself in being the only LITC in Massachusetts dedicated to supporting the Asian community, with specialized translation services in Chinese, Vietnamese, and more in development. Though funded […]

ESOL Classes

Tax-Saving Ideas to Start 2022

As we start 2022, it’s a great time to start using tax-saving ideas to help you meet your personal financial planning goals. The global pandemic has continued to bring many uncertainties in policy and tax legislation and volatility in the financial markets, but overall 2021 was another historic year for equities. The following checklist will help you identify important actionable items to consider as part of your 2021 year-end income and transfer tax planning, as well as help you prepare […]

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