Bill > S1932

This bill makes several changes to the administrative tax laws of the Commonwealth of Massachusetts. Firstly, it allows the Commissioner of Revenue to disallow the asserted tax consequences of a transaction by applying the sham transaction doctrine or other related tax doctrines, in which case the taxpayer bears the burden of demonstrating that the transaction had a valid business purpose and economic substance apart from the asserted tax benefit. Secondly, it extends the filing deadline for corporate tax returns from 6 months to 7 months for certain taxpayers. Thirdly, it requires the Commissioner to pay reasonable attorney fees to taxpayers if the Appellate Tax Board finds in favor of the taxpayer and the Commissioner had rejected a settlement offer of 35% or more of the assessed liability. Finally, the bill establishes a 2-month tax amnesty program in fiscal year 2018, allowing the waiver of certain penalties for taxpayers who come into compliance with their tax obligations.

Budget and Finance

https://malegislature.gov/Bills/192/S1932