Tax Tips & News: budget crisis

Exclusive Interview With TurboTax Whistle Blower

14 minutes read

Last week, I did a blog post about Mr. Charles Freret who went on a one-man crusade to expose a flaw in the popular do-it-yourself tax program: Intuit’s TurboTax.  You can read that article & post here. After Mr. Freret read the aforementioned post, he contacted R&G Brenner and agreed to sit down for an exclusive interview. Mr. Freret’s story of persistence to discover the truth is incredible. What he uncovered along his journey is TurboTax is miscalculating tax returns on a large scale. And...

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Half of Americans Will NOT Pay Taxes in 2010

4 minutes read

All is not well at the IRS.  According to the Tax Policy Center–and what is surely to exacerbate the Federal budget crisis-47% of American households will pay ZERO federal income taxes this year.

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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...

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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.

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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.

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NY State Form 1099 G No Longer Being Mailed

1 minute read

In an effort to slash over $700,000 from their budget, NY State has eliminated the mailing of form 1099-G (Statement for Recipients of State Income Tax Refunds) to New York taxpayers.  1099-G’s are issued to taxpayers that receive NY State refunds–which are considered taxable income on the following year’s income tax return.

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California Wants To Repay I.O.U.’s

3 minutes read

The state of California has announced that they would like to make good on over $50 Millon in uncashed I.O.U.’s–also known as Registered Warrants–to some 59,000 residents and businesses as a result of last years budget crisis; almost half of which are due to Los Angeles County residents.

John Chiang, the state controller, promised Thursday to contact every one of the nonredeemers in an effort to “close an ugly chapter in California fiscal history.” Mr. Chiang practically begged them to drain...

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