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Aaron Judge Hits 62, What Does That Mean for Taxes?

On Tuesday, October 4th, Yankees’ outfielder, Aaron Judge sent home Run number 62 into the Dallas sky setting the new American League Record for a single season. The fan who caught the ball may have also caught a … Continue reading

 

How the Rich Will Protect Themselves From The Estate Tax in 2026

Currently, the amount of money that wealthy Americans can shield from estate taxes in 2022 is at historic highs. Up to $12 million can be protected for individuals, and double that for married couples. However, that is all set to … Continue reading

 

IRS Mistakenly Sends Over $1 Billion in Child Tax Credit

An audit this past Tuesday found that the IRS sent over $1 billion to ineligible taxpayers in child tax credit payments last year. 3.3 million incorrectly sent payments were found between July and November of last year, as well as … Continue reading

 

Florida to Enact Gas Tax Holiday Amid Ian Disaster, Among Other IRS Relief

Late last week, a devastating natural disaster, Hurricane Ian stormed its way up the coast of West Florida devastating almost everything in its path. The category 4 hurricane brought heavy rain and 150+ MPH winds, flooding the streets and homes … Continue reading

 

Home Prices See First Monthly Decline in Years

From June to July, home prices slid for the first time in years.  This is the latest sign that higher mortgage rates are starting to weigh on home prices in many of the country’s biggest markets.  It will be interesting … Continue reading

 

IRS Extends Time to Fix Up R&D Tax Credit Claims

For companies and tax professionals alike, the IRS is granting a one-year extension to fix up their claims for the research and development tax credit. On Friday, the agency announced an extra year extension through Jan. 10, 2024, the transition … Continue reading

 

IRS Ramps Up Efforts on Noncompliant Crypto Taxpayers

The IRS continues its efforts of tracking down taxpayers for their unreported and unpaid taxes.  This comes following a new court order allowing the IRS to summon customer records from M.Y. Safra Bank. This isn’t the first summons from the … Continue reading

 

Goldman Sachs Brings Back Wall Street Tradition With Hundreds Of Cuts This Month

The first major bank on Wall Street kicked off layoff season by cutting hundreds of jobs across the firm.  This move is attempting to reign in expenses amid a collapse in deals volume. According to a person with direct knowledge … Continue reading

 

3 Things To Consider Doing Before The Tax Extension Filing Deadline

It is almost that time again! In a little under a month, almost 19 million Americans who asked for extensions on their 2021 tax returns will need to file. There are a few crucial actions these taxpayers need to take … Continue reading

 

Victims Of Hurricane Fiona Qualify For Tax Relief Throughout Puerto Rico

Earlier this week, a category 4 hurricane charged up the Caribbean coast devasting all 78 of Puerto Rico’s Municipalities and leaving the entire island without power. The IRS is offering relief which includes the suspension of various federal individual and … Continue reading