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.
In the absence of… Continue reading

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… Continue reading

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… Continue reading

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… Continue reading

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… Continue reading

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… Continue reading

Ahhh H&R Block.  You really are the McDonalds of income tax preparation.  It’s like I always say, if you wan’t a good burger, you don’t go to McDonalds.  Sure, it tastes good going down, but you’ll be sorry later…
Here’s H&R Block big wig Russ Smyth being interviewed about why he favors the new tax preparer… Continue reading

In the wake of the newly imposed regulations governing paid tax preparers, Nina E. Olson of the office of The National Taxpayer Advocate–an IRS watchdog–issued a report faulting the IRS on collecting delinquent taxes.  She called it “…an astonishing lack of transparency as to what is included in these revenue figures and how they are… Continue reading

R&G Brenner wishes you a Happy New Year for 2010.