Tax Tips & News: ny

Can A Tax Help Combat Childhood Obesity?

4 minutes read

Childhood obesity is a complex issue, ad medical experts and social scientist have been in a gridlock about how to fix the problem for years. Now some economists argue that taxing junk foods could tip the scales in the right direction. One study by the University of North Carolina showed that a 10% price increase on soft drinks and pizza caused customers to consume far fewer calories from these items. A $1.00 price increase for soft drinks...

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What Happens If You Don’t File Your Taxes?

5 minutes read

The only certainties in life are death and taxes, as the saying goes. Taxes are an annual event that, however unpleasant, we all have to deal with. It may interest you to know that according to the Internal Revenue Service (IRS), an estimated 239.3 million tax returns were filed in 2012 by individuals and businesses in the United States. That amount exceeded by a little more than 1% the number of returns that were filed in 2011, and by 2018 that...

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Contractor Hired To Process NY State Tax Returns Made Mistakes & Cost Millions

1 minute read

A recent review of New York State Industries For The Disabled–the contractor hired by New York State to process mail-in tax returns–revealed a tremendous amount of mistakes and excessive overtime that cost taxpayers Millions of dollars:

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NY Suspending Drivers Licenses For Those That Fail To Pay Taxes

4 minutes read

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5 Tips for Avoiding an IRS Tax Audit

5 minutes read

IRS audits are feared for good reason: at best, they’re disruptive, and at worst they can cost you vast amounts of money. Though the percentage of audited returns is relatively low, every year the IRS still audits a huge number of returns. Following these tips can help you reduce the chances you’ll end up as one of their targets. 

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NY Will Issue Estate Tax Refunds To Gay Couples

2 minutes read

When NY State adopted same-sex marriage in 2011, the estate tax was also removed for legally wed couples.  But now, The NY State Supreme court has gone one step further and ruled to refund  estate taxes collected from any gay couple going as far back as tax year 2008:

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Beware Of Phony Tax Collection Letters

2 minutes read

Tax season may be over, but the scamming season has just begun.  The NY State Department of Taxation has issued a warning to be on the look out for phony tax collection letters that have recently made the rounds.  Gov. Andrew Cuomo said:

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Deadlines Extended For NY Taxpayers

2 minutes read

Due to Hurricane Sandy, the New York Department of Taxation has extended filing/payment deadlines.

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MTA Payroll Tax Ruled Unconstitutional

3 minutes read

A New York court has ruled that the metropolitan commuter transportation mobility tax (MCTMT) was unconstitutionally passed by the New York Legislature. The tax, which is also referred to as the Metropolitan Transportation Authority (MTA) payroll tax, applies to certain employers and self-employed individuals engaging in business within the Metropolitan Commuter Transportation District (MCTD).

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When To File An Amended Tax Return

4 minutes read

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