Tax Tips & News | R&G Brenner (28)

States Are Crossing Borders to Collect Taxes

5 minutes read

The States are getting desperate. New York & Connecticut (among others) are gearing up to enforce a tax law usually reserved for the rich and famous. Athletes, for example, make millions upon millions of dollars and their travel schedules are well known. Therefore, when they travel to another state to play, that particular state taxes a prorated share of their annual income. Due to the financial crisis and state budgets crises, now the Joe-the-Plumbers of the world can expect to be taxed just...

How to Know If You Need a Tax Pro

3 minutes read

Tax time is one of the most stressful times of year for everyone. Besides worrying about possibly owing even more than you’ve already paid, there’s always the question of figuring out exactly how you’re going to get your taxes filed. Aside from a few whiz kids, I don’t know very many people who feel comfortable doing their own taxes from scratch. Some depend on a personal accountant, some depend on a calculator-savvy friend, and some just walk into the nearest H&R Block, Jackson Hewitt or R&G...

NY Delays All Refunds Until April 1st

3 minutes read

The income tax refund checks will be in the mail, but with a two-and-a-half week delay.

IRS Audits More Wealthy Americans

3 minutes read

The Internal Revenue Service is intensifying its scrutiny of wealthy Americans.

New York To Name Tax Delinquents

2 minutes read

In an effort to shame those that owe the state taxes, New York has taken the extraordinary (and desperate) measure to name the 500 biggest tax delinquents (individuals & businesses) on their website www.nystax.gov.

IRS Has 1.3 Billion In Unclaimed Refunds!

2 minutes read

The IRS has reported that more than 1.4 million tax payers are due over $1.3 BILLION in unclaimed refunds because they have not filed a 2006 tax return. These refunds are still available, but only if a 2006 tax return is filed before April 15th, 2010. After that, the government gets to keep your refunds.

Maximize Your Return

3 minutes read

There are many ways to maximize your refund in any given tax year. However, as opposed to sifting through reams of tax laws to determine whether or not you qualify for certain tax credits, various deductions or if you should file additional tax schedules, one of the easiest & most frequently overlooked adjustments you can make is to your employee withholding.

Tax Preparers Vs. Tax Software

8 minutes read

I recently read an article that breaks down the differences in the two most popular tax preparations software; Intuit’s TURBOTAX and H&R Block’s AT HOME (previously knows as TAX CUT). I am going to post some of the interesting findings and add R&G Brenner’s comments underneath:

New York State To Delay Refunds…Again!

3 minutes read

It appears that for the third year in a row, NY state is planning on delaying refunds to New York taxpayers. The last two years, the state was savvy in delaying refunds by issuing a blanket letter requesting “additional documentation” in order to release refunds. However, in many cases, the state already had all the documentation in order to process refunds. In light of the current budget crisis, it appears New York State can no longer beat around the bush.

First-Time Homebuyer Credit Under Tremendous Scrutiny by IRS

2 minutes read

The First-Time Homebuyer Credit (FTHC)–where qualifying taxpayers can receive up to an $8,000 tax credit–is under tremendous scrutiny by the IRS as it has been earmarked this year as a credit that is likely to be abused. This is not surprising considering the huge amount of money the IRS could stand to lose due to erroneous claims. However, those that legitimately qualify for this credit MUST be diligent in the documentation they provide in order to receive this credit. The IRS has just...

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