Category Archives: Federal & State Tax Resolution Law
Work Opportunity Tax Credit
Owning and operating a small business has never been easy. Recently between COVID, supply chain issues, rapidly increasing costs and labor shortages the challenges small business owners face are more daunting than ever. But there is always hope and opportunity, sometimes from the most unlikely of sources, like the IRS and the Work Opportunity Tax […]
Venmo? Paypal? Cash App?
Do you have a business? Provide services and accept payment via a peer-to-peer or electronic service such as Venmo, Paypal or Cash App? If so you should be aware of changes to the IRS third-party reporting requirements in an effort to stem underreporting of income.
Common Myths About Tax Refunds
With the April 18th tax filing deadline fast approaching (yes…it’s the 18th this year) many taxpayers are still scrambling to get their returns completed and filed. However, many more have already filed their returns and are awaiting refunds. The IRS is reporting that for 2021 returns they are processing and delivering refunds in less than […]
Help From The IRS
Many taxpayers, especially those that decide to prepare and file their tax returns on their own have questions about their return. These may have to do with the advanced Child Tax Credit, the third round of Economic Impact Payments or other issues.
IRS Warns Taxpayers To Protect Their Personal Online Information
Anyone who has had their credit card number or email address hacked knows all too well the inconvenience, costs and aggravation that comes with having their personal information stolen. And if you think that that is bad…well as the saying goes “you haven’t seen anything yet!”
IRS Warns of Delays
The IRS National Taxpayer Advocate released her annual report to Congress today. For the year 2021 the Taxpayer Advocate pulled no punches in saying “[t]here is no way to sugarcoat the year 2021 in tax administration…The year 2021 provided no shortage of taxpayer problems.”
New IRS Rules Encourage Charitable Donations
It’s the time of year that brings out the best in us. The vast number of charitable events such as toy drives, coat drives, food collections and such and the massive response that they garner are clear evidence of our charitable nature.
New York State Driver License Suspensions
Many of our client are surprised to learn that New York State can suspend your driver license if you owe state taxes in excess of $10,000.00. As you can guess they usually find this out when they get the notice in the mail. Driving with a suspended license is nothing to take lightly. Besides the […]
Employee or Independent Contractor?
In today’s economy with “gig workers” and the like the question for businesses as to whether or not a person is an employee or independent contractor is more difficult to answer than ever before. Since getting the determination wrong can result in business being charged with the unpaid employer share of the employment tax and […]
Tax Deadlines Extended for Ida Victims
The IRS has announced that tax filing deadlines for victims of Hurricane Ida in New York have been extended. This extension covers both individual and business filers. The new deadline is January 3, 2022. This extension applies to individuals and businesses located within FEMA areas designated to receive individual or public assistance. The result of […]