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.
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.
Report: Bigger Paychecks Now Could Mean Bigger Tax Bills Next YearThe U.S. Department of the Treasury estimates 30 million Americans are being “under-withheld” this year.
New York, New Jersey, Connecticut Sue Over Tax OverhaulSue claims new $10,000 tax limit on state and local deductions aimed at hurting specific states.
New Jersey Introduces Charitable Option To Help Taxpayers Hit By Capped Federal DeductionsThe federal tax changes will affect states, like New Jersey, with some of the highest property tax rates in the country. On Friday, Gov. Phil Murphy signed a law that aims to provide some relief.
GOP Tax Plan Could Wind Up Benefiting Opponents Schumer, GillibrandThe fight over the new Republican tax law had some Democrats working hard to stop it. But now, it appears some of those lawmakers stand to benefit from the changes.
New Yorkers Wonder How New Tax Plan Will Affect Their FamiliesMore than 50 people showed up at the Wyckoff Heights Medical Center on Saturday – not for medical advice, but to discuss taxes and how the plan that was passed in Washington might affect them.
Republican State Senators Unveil Plan To Protect New York TaxpayersThe fight to protect New Yorkers from feeling taxed out from the federal tax plan got another player on Tuesday.
Tax Reform Credited For Company BonusesA growing number of companies say the new federal tax law will benefit their bottom lines, so they're sharing the windfall with workers.
Local Homeowners 'Taxed Out' As New Federal Tax Code Takes EffectWith the new year brings a new federal tax code, which means higher taxes for many in our area because of the elimination of local and state deductions.
GOP Senators Tout Tax Reform Bill Ahead Of VotePresident Donald Trump could score his first legislative victory this week, as Congress is expected to vote on its tax overhaul plan.
Experts: Take Advantage Of Deductions Before Tax Reform Bill Is SignedOne day after congressional leaders hammered out a tax reform agreement, Tri-State Area residents are calculating what the loss of key deductions will cost them.
Local Republican Lawmakers At Odds With Compromise On GOP Tax BillPresident Donald Trump says the bill will lower the average American's tax bill, but it has some local lawmakers worried about state, local, and property taxes.
Senate Passes GOP Tax Overhaul Bill In Early Morning VoteThe Republican-led House approved a similar bill last month. Now, the two chambers will try crafting a final compromise to send to the president.
Suffolk County Executive Starts Online Petition Against Tax Overhaul PlanSuffolk County Executive Steve Bellone says the Republican tax proposal would be "absolutely devastating for Long Island."