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Tax Law

Podcast: Massachusetts retroactively denies income tax credits

This podcast discusses recent notices and assessments issued by the Massachusetts Department of Revenue denying taxpayers’ Economic Opportunity Area Credit and Economic Development Incentive Program Credit use and carryforward. It discusses:

  • the 2016 statute amendment that imposed additional credit requirements and led to this issue
  • the Department’s position on why it can deny new credit generation as well as credit carryforward
  • taxpayers’ potential arguments to challenge the Department’s adjustments

Listen to the podcast here.