8 minutes read
Republican candidate Mitt Romney recently bowed to pressure last week and released his 2010 tax return. What it showed is that Romney paid a little less than $3 million in taxes on $21.6 million of income. This equates to an affective tax rate of less than 14%–far below what the average taxpayer pays.
3 minutes read
If you are one of the millions of taxpayers who filed early this year, the IRS has emailed tax professionals that they may be delaying the release of refunds by about a week (or even more).
2 minutes read
According to the Tax Foundation–a Washington D.C. based research firm–New Jersey & New York Sates were ranked the worst climates in the United States for business.
2 minutes read
The name “Watson”–the IBM supercomputer that beat human Jeopardy champions handily–has become a fixture in today’s lexicon. So much so that the New York State Department of Taxation has partnered with IBM and is using the same technology developed for Watson to review tax returns. Thomas H. Mattox, the tax commissioner explained that their new systems incorporates the use of “business analytics” to determine the merit of tax returns. In other words, Watson is helping NY to catch cheaters.
5 minutes read
Every year, taxpayers forfeit more than one billion dollars of their money to the government. Missed tax credits and deductions, choosing the wrong filing status, not filing at all and other errors all keep taxpayers from getting all they are due in tax refunds.
2 minutes read
The New York State Department of Taxation wants all tax returns filed electronically this year. In years past, they have assessed penalties to Paid Income Tax Preparers as an “incentive” to file returns they prepare electronically. This year, they have gone one step further. New York is now assessing penalties directly to the tax payer as well as the tax preparer:
5 minutes read
With all the uncertainty the still remains regarding the tax code for 2011, there is still some steps you can take to help save or off-set some taxes. Here are 5 tips from small business advocate Barbara Weltman to help you out before the apple drops on 2011:
2 minutes read
As reported today, 12/9/11, Republic Bank has settled with the FDIC to shut down it’s Refund Anticipation Loan (RAL) Business. As part of the settlement, Republic will pay a $900,000 fine, and completely shut down the RAL by April 30th, 2012.
1 minute read
The Small Business Community Association (SBCA) has selected R&G Brenner Income Tax to receive the 2011 Best of Business award in the field of Income Tax Preparation for the NY Metro Area. This is the second time that R&G Brenner has received this award. Thanks to all of R&G Brenner’s hard working associates and staff who made this award possible. And a special “thank you” goes out to all R&G Brenner clients. Is is due to your loyal patronage that R&G Brenner will be celebrating it 71st...
1 minute read
I am pleased to announce the location of our new Midtown Manhattan office!