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Federal Court Shuts Down New York Tax Preparer

CPA Practice

A federal court in the Eastern District of New York issued a permanent injunction yesterday against a Brooklyn, New York, tax return preparer.

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New York Business Stifled Due to Federal Research Capitalization Rules

Withum

Whether it is manufacturers, clothing designers, software developers, plant breeders, winemakers, or engineers, businesses across New York State are shocked to hear how significantly their federal tax bills are increasing for the 2022 taxable year even when their earnings remain the same.

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New York City’s Tax Code Adopts Significant Changes

Withum

New York City’s tax code was amended on August 31, 2022, to harmonize a number of the City’s provisions with New York State. New York City Corporate Economic Nexus. This legislation does not apply to New York City Unincorporated Business Tax or General Corporation Tax.

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Enrolled Agent Near Me: Comprehensive Tax Services for Individuals and Businesses

MyIRSRelief

Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S.

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New York Set to Adopt Federal Centralized Partnership Audit Regime

Withum

New York plans to align with the federal centralized partnership audit regime as part of Governor Kathy Hochuls fiscal year 2026 budget. New Yorks proposal would be retroactive to adjustments after January 1, 2018. Governor Hochuls budget aims to eliminate uncertainty about reporting CPAR-related federal tax adjustments.

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What's new in May for state sales and use taxes

TaxConnex

Exclusions include sales of the services in fulfillment of a lump-sum, fixed-fee contract, or a fixed-price sales contract executed on or before Feb. For gross receipts from the sale of newly taxed services prior to Jan. 1, 2023, if the gross receipts were less than $6,000 during calendar year 2021, the services are exempt.

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3 things to remember about economic nexus

TaxConnex

New York: $500,000 sales AND 100 transactions. All 45 states with state-wide sales tax now have economic thresholds set. TaxConnex provides outsourced sales tax services to businesses of all sizes. Get in touch to learn how we can help you stay ahead of sales tax and ensure your business remains compliant!