One of the most common — and costly — mistakes taxpayers make is waiting too long to respond to a tax notice. Across federal and state tax systems, the time allowed to challenge an income tax assessment is strict, jurisdictional, and unforgiving. Missing a deadline often means the assessment becomes final, regardless of merit. Below
In our recent blog posts, we covered the federal impact of the One Big Beautiful Bill Act (OBBBA). In this post, we turn to how these federal changes interact with state tax systems—specifically whether each state chooses to conform to or decouple from the new federal provisions. A state’s tax impact depends on two factors:
Since the pandemic, there is a higher mobility on the working force and even companies switching headquarters to more tax friendly environments. As a member of the Philadelphia Tax Reform Commission, we considered extremely relevant the comparison of State and Local taxes in different territories. Taxes is one of the factors for business and individual
As the Social Security Board of Trustees (Federal government) estimates that from 2035, the payments of scheduled benefits might be reduced to around 75% (unless there is a reform to increase the fund assets), more and more States are requiring small businesses to join State programs offering retirement options to their employees, if not already
The New York State Department of Labor has a special program called " Shared Work CLICK HERE " to support NY business with a slowdown, so the employee work reduced hours receiving wages and also collecting some of the unemployment benefits. This program allows: Save Labor Dollars - Adjust employee hours as needed. Employees working reduced hours
Based on the IR-2021-179 release, victims of Hurricane Ida in parts of New York and New Jersey now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced on 9/8/2021. The IRS is offering relief to any area designated by the Federal Emergency
