Lawmakers in the state capital are poised to allow a lucrative $1.7 billion New York City property tax break to sunset, leaving developers in limbo on rental housing projects and skirting one of the few legislative efforts to reform the city’s arcane property tax system. New York state lawmakers hustled […]
Tax
2007 Nevada tax change cut cost of property deals
The Bellagio Fountains and exterior are seen from the Chateau Rooftop at Paris Las Vegas in Las Vegas. (L.E. Baskow/Las Vegas Review-Journal via AP) LAS VEGAS (AP) – In 2007, not long before Las Vegas’ frenzied real estate market imploded, Nevada lawmakers approved a seemingly minor tweak to a tax […]
Former Real Estate Attorney and Wife Plead Guilty to Mortgage Fraud and Tax Charges | USAO-MA
BOSTON – A former Massachusetts attorney and his wife pleaded guilty today in federal court in Boston in connection with various mortgage fraud schemes. Barry Wayne Plunkett Jr., 61, and Nancy Plunkett, 56, both of Hyannis Port, pleaded guilty to five counts of bank fraud and one count of aggravated […]
Build Back Better Green Energy Tax Credit Proposals: Labor Laws
Introduction Much debated and highly anticipated, the Build Back Better Act—the BBB Act—has hit a snag. Yet many in Washington remain optimistic that its package of green energy provisions and incentives will become law this year. If that happens, tax departments will need to develop expertise in not only the […]
‘We live 5 minutes from our in-laws who have a larger home’: Is it a good idea to swap houses? Will I end up with a surprise tax bill?
I am a California resident. My husband and I own a 1,800-square-foot home that we bought in 2019 for $1.5 million. We have between 40% and 50% equity in the property due to a large down payment. We live five minutes from our in-laws who have a larger home (around […]
Governor Mills Announces $3.5 Million in Lifeline Loans to Cover the Property Tax Bills of Older or Disabled Maine People
As increasing home values burden Maine people on fixed incomes, an initiative of the Maine Jobs & Recovery Plan will help pay property tax bills for Maine seniors and those who are permanently disabled Governor Janet Mills announced today that her Administration is launching the State Property Tax Deferral Program, […]
My mother-in-law died. Do we have to file inheritance tax forms?
Q. My mother-in-law passed away last December and left a small estate for the family to share. After reading the tax forms, I’m not sure if the estate requires a filing. All of the beneficiaries are Class A. The gross assets are classified as personal property according to Schedule B-1 […]
Changing ways of working call for changing employment and tax policy
The way individuals work for pay has transformed radically in recent years, but employment practices and tax treatment remain largely frozen in outmoded assumptions and models. Annette Nellen, Esq., CPA, CGMA, will examine changing work models and proposals for change in “Should Everyone Be an Employee? Policy for the Modern […]
Family Attorney Fears Tax Decision Smuggles Religion Into Family Law
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shot of word marriage getty Family law attorney Sue Moss thinks that Judge Emin Toro of the United States Tax Court has done a great disservice to women, particularly Orthodox Jewish women, in his decision in the case of the Estate of Semone Grossman. She fears that this decision of a […]