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IRS Adds 4,000 Employees to Assist With Next Tax Season

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

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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

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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

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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

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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

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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

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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

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IRS to Begin Targeting Abusive ERTC Claims

There has been an ongoing discussion between the IRS, Congress, and the AICPA regarding the millions of businesses that have been a target of tax credit companies trying to help them claim the employee retention tax credit. There is a … Continue reading

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Taxing Cow Farts to Combat Climate Change

Last week, the New Zealand Government proposed a tax on farm animals’ greenhouse gas emissions. This is part of New Zealand’s effort to reduce the pollution of these animals, which is ultimately contributing to climate change.… Continue reading

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CVS Will Pay the Pink Tax – Lowers Prices on Feminine Hygiene Products

Last week, the pharmacy giant CVS lowered its prices for there store-branded feminine hygiene products. Every CVS store in the country has recently done this, and some are beginning to pay the sales taxes on tampons, and other menstrual products … Continue reading

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