2 minutes read
The deadline to obtain health coverage for calendar year 2014 on or outside of the NY State Health Care Exchange is March 31st, 2014. After this date, the health care exchange and insurance companies outside of the exchange will cease offering policies for 2014. The exchange is slated to reopen October, 2014. However, once the health exchange reopens in October, the only policies available will be for calendar year 2015.
3 minutes read
WASHINGTON — The Internal Revenue Service today announced a simplified option that many owners of home-based businesses and some home-based workers may use to figure their deductions for the business use of their homes.
3 minutes read
Late on January 1, 2013, Congress passed HR 8 (Tax Relief Extension Act) which extended almost all of the Federal tax provisions that had expired at the end of 2011 and 2012.
3 minutes read
According to a recent report, the IRS risks issuing $26 Billion in fraudulent tax returns over the next 5 years. In 2011 alone, the IRS received 2.2 Million fraudulent returns, costing taxpayers $6.5 Billion. True to form, a “quick fix” idea has gained the most traction with the IRS & members of congress, and naturally it is at the expense of the taxpayer. Rather than investigate the root of the problem, the IRS wants more time–i.e. YOUR time–to review tax...
2 minutes read
Nearly 1.1 Million taxpayers did not file a federal tax return for 2007. New York taxpayers account for 62,600 of the tax returns that have not been filed. These returns have an average refund amount of $706 and account for approximately $78,405,000. These individuals who did not file, must submit their income tax returns by April 18th 2011 or forfeit their refunds to the IRS.