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The following are a list of critical tax benefits all tax payers should be aware of. Pay particular attention to the first one, as this will negatively affect taxpayers by reducing the amount they receive from the Child Tax Credit.
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Two H&R Block Tax Consultants have filed suit against H&R Block stating that they allegedly violated the Fair Labor Standards Act.
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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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By now, everybody is aware of the sheer devastation inflicted on the people of Haiti by a massive earthquake that struck 9 days ago. It has been estimated that in excess of 200,000 people have been killed or are still missing. The global outpouring of aide & donations are setting records daily. However, in an effort to reward those that have made donations to Haiti–as well as provide an incentive to those that have not–a bi-partisan bill is being introduced by the Leaders of the House Ways &...
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Jaskson Hewitt–the 2nd largest tax preparation business behind H&R Block–has lost over 50% of their Refund Anticipation Loan (RAL) funding for the 2010 tax season. Due to regulatory crackdowns, the bank that funded Jackson Hewitt’s RAL program–Pacific Capital Bankcorp Inc.–was blocked by the Office of the Comptroller, and ordered to leave the RAL business.
“It’s potentially disastrous for Jackson Hewitt,” said Vishnu Lekraj, an analyst at Morningstar Inc. “If they lose the ability to provide...
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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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The only certainties in life are Death & Taxes as the old saying goes. But thanks to the inaction of Congress, wealthy taxpayers have one less tax to pay in 2010. On the surface this should be a good thing, but unfortunately, it’s not that simple…
Tax planners across the country were certain that Congress would extend the Estate Tax–also known as the “Death Tax”–which was set to expire this year. The House acted, but the Senate did not. So for the first time since 1916 there is no estate tax,...
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I am proud to announce that R&G Brenner Income Tax Consultants is the recipient of the 2009 Best Of Business Award in the category of tax return preparation services by the Small Business Commerce Association (SBCA). I would like to thank all R&G Brenner associates; from our Senior Tax Consultants, Executives and clerical staff for allowing us to receive this outstanding reward. In a time when small businesses are becoming an extinct species, you are the foundation...