by Internal Revenue Service Photo courtesy of Pepi Stojanovski on Unsplash As part of continuing compliance efforts under the Inflation Reduction Act, the Internal Revenue Service announced on Thursday, July 11, the agency has surpassed the $1 billion mark in collections from high-wealth taxpayers with past-due taxes. As part of larger efforts taking place, the IRS has stepped
Amy Carnevale was elected as the next MassGOP chair replacing Jim Lyons, right, as voting went two rounds. (Chris Christo/Boston Herald) Supporters who campaigned for the creation of an additional tax directed at the state’s highest earners may soon be experiencing a form of buyers’ remorse now that there’s concrete evidence suggesting the flight of
News Gov. Pillen open to options on lowering property taxes Nebraska Gov. Jim Pillen says he’s open to discussing solutions for lowering the state’s property tax burden. His proposal that would remove sales tax exemptions on some ag inputs has faced pushback because of how the plan could impact young farmers who rent property. “If
HORRY COUNTY, S.C. (WBTW)– Property owners in Horry County should be on the lookout for reassessment notices in their mailboxes. More than 250,000 notices have been mailed out as part of the county’s routine reassessment process, which occurs every five years to re-equalize property values. Courtesy: Horry County Government Some homeowners are concerned that higher
The IRS failed to comply with the state attorney general’s request for records about a pandemic tax relief program for businesses, the state of Missouri said in a Friday lawsuit. Missouri Attorney General Andrew Bailey requested in May that the IRS produce communications about its September 2023 decision to stop processing new Employee Retention Credit
Rendering for Vose Farm Residences, Peterborough Catholic Charities NH was awarded $625,000 in tax credits by the NH Community Development Finance Authority (CDFA) to support an affordable housing project in Peterborough, the nonprofit announced July 9. The funds are part of a recent CDFA distribution of $6.6 million in tax credits to nonprofits for community
In this episode of our Cross-Border Catch-Up podcast series, Diana Nehro (shareholder, New York/Boston) and Carlos G. Colόn-Machargo (of counsel, Atlanta) discuss common employment practices that may trigger “permanent establishment” tax obligations abroad. Carlos and Diana, who is chair of the firm’s Cross-Border Practice Group, provide an overview of issues to consider when engaging workers (including contractors)
“Your tax dollars at work” was never meant to include child abuse. But that’s the odious image presented in a new Senate report, whose title describes numerous youth residential treatment facilities (RTF) that receive federal funding as “warehouses of neglect.” Bipartisan oversight legislation is now planned, following a Senate Finance Committee hearing last month on
Numerous states will be holding tax holidays this summer, meaning shoppers can save on the cost of states’ sales taxes during certain periods. Tax holidays take place in a plethora of states every year, lowering prices on certain items for a set period. Some tax holidays only last a weekend, but others, like in Florida
Property tax levy growth will be capped at 2% for 2025 for local governments that operate on a calendar-based fiscal year. That’s according to data released by State Comptroller Thomas DiNapoli. This figure affects tax cap calculations for all counties, towns, and fire districts, as well as 44 cities and 13 villages. “Allowable tax levy