Millions will have to repay part of tax credit

WASHINGTON - More than 15 million taxpayers could unexpectedly owe taxes when they file their federal returns next spring because the government was too generous with their new Making Work Pay tax credit.

Corporate tax break could cost Massachusetts $535 million, state warns

BOSTON (AP) - State officials estimate that a new corporate tax deduction would cost Massachusetts at least $535 million over seven years, leading some lawmakers to call for a review of the break.

Lagging tax revenues could lead to more Massachusetts budget cuts

BOSTON (AP) - It looks likely that still-plummeting tax collections will prompt another round of budget-cutting in Massachusetts.

Gov. Deval Patrick said Friday tax collections in September fell $243 million below projections. Collections for the first quarter of the state's fiscal year were off a cumulative $212 million.