Paul Graney, Tax & Business Services Director, Featured in Boston Business Journal Article "Study: Tax Havens, Loopholes Cost Mass. Taxpayers Thousands"
Boston Business Journal
By Matthew L. Brown
The amount of money corporations and rich folks send offshore to avoid paying taxes could save the MBTA and put thousands of dollars in the pockets of Massachusetts taxpayers every year, according to a MassPIRG study released today to coincide with tax season.
The study, “Picking up the Tab,” argues tax loopholes that large companies and the wealthy use to dodge taxes should be closed. Changing those loopholes would put $1.6 billion in state coffers every year and take stress off small businesses, according to the study.
Paul Graney, director of tax services at Marcum LLP in Boston, said MASSPIRG is on the right track.
“For the state, the budget has to balance every year, and if there’s a shortfall, the legislature has to make cuts to services to realize that amount. The rest of us are making that up,” Graney said. “We’re either losing services, or they’re going to increase the sales tax or increase the income tax. Something has to give somewhere along the line. If people aren’t paying their fair share one way or the other, the rest of us are going to have to make up the difference.”