As Part of it’s Work Opportunity Tax Credit, the IRS is offering credits to businesses that hire veterans. With Veterans Day just passing, this is good time for the IRS to put this credit into the news. The following are a list of criteria for businesses to qualify for the Work Opportunity Tax Credit:
Time is running out for taxpayers who paid New York’s metropolitan commuter transportation mobility tax (MCTMT or MTA tax) when it was first imposed in 2009 to file protective refund claims in the wake of the tax’s being declared unconstitutional.
On Aug. 22, 2012, the New York Supreme Court held that the MCTMT “was unconstitutionally passed by the New York State Legislature” (Mangano v. Silver, No. 14444/10...
According to the IRS, over 11 million taxpayers who filed for an extension are due to submit their final tax return by October 15th. Failure to do so can result in penalties and interest. If you filed an extension, and have yet to file your final return, time is running out. If you require assistance, R&G Brenner can help. Please contact us here to schedule an appointment and/or to speak to a qualified R&G Brenner tax professional.
President Obama & the republican nominee Mitt Romney have clear differences regarding their proposed tax changes. However, there are a lot of open questions on how they actually intend to implement these changes. Who’s plan do you favor, and who’s plan is more realistic in accomplishing their stated goals?
The IRS recently announced that it plans to increase audits of small businesses in the hopes of closing a $450 Billion gap. This announcement is interesting because it come on the heals of a recent report that most audits of small businesses turn up nothing. The eight significant audit areas the IRS will be concentrating are:
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).
