Tax
The IRS is working with Code for America to offer New York residents the able to file taxes for free next year. It’s part of a limited pilot program which will allow states like New York, Arizona, California, and Massachusetts to merge their state e-filing process with the IRS’s federal E-filing tools. According to the […]
New York State is in the works of trying to propose a bill for stream tax. If this bill happens to go through this would add an eight percent sales tax on your favorite streaming services. The increased sales tax would apply to all digital streaming products, from TV to audiobooks and even gaming and […]
According To Forbes, OnlyFans content creators have recently been contacted in connection with a criminal tax investigation. The news is coming from multiple sources within the tax community. Traffic to OnlyFans, a subscription-based social media platform that often includes adults-only content, exploded with the pandemic. OnlyFans reportedly grossed over $2.3 billion in 2020 alone. Its content […]
Over the weekend, The Senate passed the Inflation Reduction Act, a democratic-led package. The bill includes close to $400 billion, allows Medicare to negotiate the prices of some prescription drugs, establishes a 15% corporate minimum tax on companies worth $1 billion and fight climate change. The vote came after a marathon session that lasted through […]
There are a couple of bills that passed in the state Senate to help veterans who served in the military and in war zones. The proposals will help veterans and active duty military personnel better acclimate to civilian life. The bills include a property tax exemption for veterans who served in combat. There is also […]
Gas prices will most likely go up but not because of the usual reasons. New York State and the rest of the country and world are moving to clean renewable energy to prevent climate change. There is a new bill that calls for a pretty significant tax increase on gas. This is not just for […]
When Congress passed the COVID-19 relief package in May, over $100,000 in the for of stimulus checks went to incarcerated individuals. While the legislation doesn’t exactly exclude inmates, the IRS is actively seizing the funds that were sent, using the guidelines on Social Security to justify their action. The Social Security Act refuses incarcerated people from receiving certain types of […]
The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This […]
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