The Internal Revenue Service is already making headway on its initiative to hire add an additional 10,000 employees. So far, the IRS has hired 4,000 new workers that will serve as customer service representatives, this is part of the IRS’s … Continue reading
News & Articles
Pre Pandemic activities becoming normal again, NY Sales Tax Soaring
Sales tax for the 3rd quarter increased this year in New York by double-digit percentages. A large reason for that is a lot of pre-pandemic activities in New York City, like going to see shows at the theater and … Continue reading
Unreimbursed Expenses Deduction for Educators
Now that fall is here, and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible
educators may be able to defray qualified expenses … Continue reading
A Recession and Job Losses are Coming, Says Economists
2023 is forecasted to be a gloomy year for the nation, according to economists. As the Federal Reserve tries to bring down the immense levels of inflation we have seen over the summer, the economy is suffering and employers have … Continue reading
New York’s Tax Revenue Higher than Anticipated
According to New York State’s Comptroller Tom DiNapoli, New York has raked in roughly $2.5 billion in tax revenue during the first 6 months of the fiscal year. This is a much higher number than the state previously forecasted. New … Continue reading
The Migration Of High Net Worth Individuals – Moving To Low-Tax States
For quite some time, there has been an argument on whether people with a high net worth move to states with lower taxes, specifically for the lower taxes. According to a new report that was recently published by the Tax … Continue reading
First Ever Digital Ad Tax, Chopped by Maryland Judge
America’s first and only digital tax proposal has been denied by a Maryland judge, declaring it unconstitutional. This is seen as a major victory for tech giants (Apple, Facebook, Google, etc.), who do most of their advertising in the digital … Continue reading
IRS Raises Tax Brackets Due to Inflation
The IRS recently made some adjustments to some key tax code parameters for 2023. Inflation will drive up more than 60 various tax provisions including, but not limited to the standard deduction amount and the income threshold where tax rates … Continue reading
You Could Be Missing Out on Thousands in 2021 Tax Credits, The IRS Reminds Taxpayers
Over 9 million individual taxpayers and their families could be leaving thousands on the table for not filing their 2021 federal tax return. The agency announced last week that it began sending letters to taxpayers they identified who could be … Continue reading