Cuomo, Murphy Demand Repeal Of Federal Cap On State And Local Tax DeductionOwning a home in New York, New Jersey and Connecticut could once again mean substantial tax breaks if a new push to eliminate the $10,000 SALT cap on federal tax returns is successful.
Tax Service Company Says IRS Will Reissue Stimulus Checks Sent To Wrong Bank AccountsAfter the IRS sent millions of stimulus payments to the wrong bank accounts, tax preparation companies said they’ve worked with the IRS to fix the error.
Coronavirus Update: Stimulus Check Tracking Site Goes Live As Millions Await Emergency AidThe first batch of stimulus checks — or "economic impact payments," as they are officially known — started hitting consumers' bank accounts on Saturday, the Internal Revenue Service has told CBS News.
National Consumer Protection Week Highlights Surging ScamsIt is estimated Americans lost nearly $670 million to scams last year.
Iconic Brooklyn Pizzeria Seized For Unpaid Taxes, Shuttered After 54 YearsCBS2 spoke to the owner's daughter Tuesday who said they had a payment plan in place with the IRS.
Taxpayers Find New Target To Blame For Smaller IRS Refunds: Their AccountantsMany tax payers are getting sticker shock, with returns drastically cut and some people even owing the government for the first time.
New Tax Laws Giving Many People Sticker Shock And Smaller RefundsAmericans like Melissa Velez filed for the government’s standard deduction – which is now a $12,000 credit for taxpayers - and her return was nearly cut in half.
Expert Explains How The Government Shutdown Will Affect You This Tax SeasonJohn Lieberman, a certified public accountant from Perelson and Weiner, says the IRS has its work cut out for them this spring.
With Dems Winning The House, N.J. Lawmakers Push To Save SALT DeductionsIn Ramsey, the average property tax bill is around $12,500. Residents will now have to pay taxes on the additional $2,500 that's over the cap.
IRS Stops States’ Attempts To Save SALT DeductionNew rules unveiled by the IRS undermine some states' attempts to help residents keep a version of a popular federal income tax deduction.
New Jersey, IRS At Odds About Tax Deduction Relief PlanThe middle class may take the hardest hit from the $10,000 federal cap on state and local tax deductions.