2015

Clients, Family & Friends,

Happy New Year!  I do hope the holidays were kind to you and that you have a happy, healthy, and prosperous 2016.

First I would like bring to your attention, a scam that is still touching people for the first time, perhaps it has already happened to you.  Did you

get a call from the IRS stating that you owe them money?  Don’t be a victim, the IRS will not call you, threaten you, demand that you pay them 

immediately with a pre-paid debit card, or ask for debit or credit card numbers over the phone, and they will not threaten to call the police and

have you arrested.  This scam has been going on for several years now, and I am amazed how many people are still getting these calls.  I have

received this phone call myself; a message was left on my answering machine saying it was urgent that I return their call.  Do not return their

phone call, or if you answer one of these calls, hang up!  You can report these incidents by calling the Treasury Inspector General for Tax 

Administration (TIGTA) at 800-366-4484 or at www.tigta.gov.

When I sat down to write to you, I took a look at last year’s letter.  All the information I gave you then is still very relevant, so for your information

a copy of my 2014 Client Letter is on my website.  Now, let’s take a look at what is new for 2015.

If you did not have health insurance for 2015, the fine has increased to the greater of $325 per adult  ($162.50 per child) capped at $975 per

family or 2% of the excess of household income over the tax return filing threshold.  You have until January 31, 2016 to enroll in health insurance

for 2016.  Fines will increase again for those that remain un-insured in 2016.  On December 18, 2015, Congress passed legislation dealing with tax

provisions that expired on December 31, 2014.  The new law extends several tax provisions retroactive to January 1, 2015, and the good news is

that some of these provisions were made permanent.  Here is a partial list:

 • American Opportunity Tax Credit……………………................…………………….Provision Made Permanent

 • Earned Income Tax Credit……....…………………………………………....................Provision Made Permanent

 • Additional Child Tax Credit……………………....………………….................………..Provision Made Permanent

 • Educator Expenses…………………........………………………………..................…….Provision Made Permanent

    The law indexes the current $250 cap for inflation beginning in 2016; it also includes professional development expenses

 • Election for itemizers to deduct sales tax in lieu of income taxes………….Provision Made Permanent

 Another interesting change pertaining to Personal Income Tax in MA is a Gambling Loss Deduction.  Beginning with 2015, a deduction is allowed 

for gambling losses at certain MA licensed gambling establishments, but only to the extent of winnings from such MA establishments.  The new

gambling loss deduction is the only gambling loss deduction allowed a MA taxpayer.  MA does not adopt the Federal Deduction.

The IRS is scheduled to begin accepting returns on January 19th this year.  My office hours are starting out as 9am to 5pm Monday through Friday, 

and as volume increases my hours will extend to 7pm on weeknights and I will add Saturday afternoons for additional convenience.  Organizers

are available on my website, early appointments are still encouraged, and drop offs are always welcome. 

Lastly, I’ve come to realize that if you only come here once a year, the path may have become fuzzy.  Here are the directions to my office: 

      From Rt. 2 East or West, take exit 19 for Phillipston. 

      At the end of the ramp, turn left onto 2AWest.

      Turn left, directly after the King Phillip Restaurant, onto Baldwinville Road. 

      Bear right at Phillipston Center, you are now on Petersham Road 

      Follow Petersham Rd. approximately 1 mile, I am the 5th visible house on the left, featuring a deck out front,

      across from a large red barn.