Taxes

Online sports betting in New York added $727.4 million in tax revenues in the state’s fiscal 2022-2023 year—and it looks like the trend will continue into the first quarter of the current fiscal year, according to a report by State Comptroller Thomas P. DiNapoli. But not all news is good news. The New York State

The California Franchise Tax Board announced that most Californians have until November 16, 2023, to file and pay their tax year 2022 taxes to avoid penalties. The FTB made the announcement October 16, on the heels of an IRS announcement, the same day. The IRS announced that taxpayers affected by winter natural disasters in 55

With hours to go before the filing deadline, the IRS has further postponed tax deadlines for most California taxpayers to Nov. 16, 2023. “Further” is a key word—due to the winter storms that hit the Golden State earlier this year, the normal spring due dates had previously been postponed to Oct. 16, 2023. Impacted Taxpayers

We tend to think that police officers are busily enforcing our laws, but prosecutors in the Southern District of Florida allege that more than a dozen officers did just the opposite. Seventeen deputies in the Broward County Sheriff’s Office are accused of Covid-19 fraud-related charges totaling nearly half a million dollars. According to Broward County

An IRS contractor, Charles Littlejohn, 38, of Washington, D.C., has pleaded guilty to disclosing tax return information without authorization. Littlejohn was initially charged on information on Sept. 29, 2023, with one count of disclosing tax return information without authorization. Generally, being charged on information means that a defendant has pleaded guilty and waived the right

The IRS has announced tax relief for individuals and businesses affected by the terrorist attacks in the State of Israel. These taxpayers now have until Oct. 7, 2024, to file various federal returns, make tax payments and perform other time-sensitive tax-related actions. In Notice 2023-71, the IRS provided relief to certain taxpayers who, due to

I had a hard time figuring out how to respond to a piece by the Editorial Board of the Wall Street Journal – A Case of Tax Fraud – at the IRS (Agent backdated documents to punish legal deductions). They were referring to an IRS screwup that has gotten a good bit of coverage in

The IRS has announced tax relief for individuals and businesses affected by the terrorist attacks in the State of Israel. These taxpayers now have until Oct. 7, 2024, to file various federal returns, make tax payments, and perform other time-sensitive tax-related actions. Affected Taxpayers The relief is extended to any individual whose principal residence or

The IRS has appealed the Tax Court’s second decision in Medtronic Inc. v. Commissioner, and the Eighth Circuit’s ruling will have major reverberations for a particularly high-stakes and litigation-prone area of tax law. In early September, the IRS wisely decided to appeal the Tax Court’s decision in Medtronic II, T.C. Memo. 2022-84. The appeal is

The good news: Most taxpayers pay what they owe in full and on time. A report released by the IRS indicates that the nation’s tax compliance rate is holding at 85%, more or less the same as in prior years. The not so good news: New tax gap projections for tax years 2020 and 2021