New York City is once again considering a major shift in how it taxes high-value real estate—specifically, luxury second homes owned by non-residents. The proposal, commonly referred to as a “pied-à-terre tax,” would impose an additional annual surcharge on certain…
The IRS has a wide variety of tools that it can use to enforce tax laws. The agency can assess a penalty if you have failed to file your tax return on time, which can increase the amount of money…
New Yorker residents must pay both federal and state taxes. Each state has its own set of tax laws and auditors who work to ensure that all required taxes have been paid. However, while the concept of an audit is…