This case, Matter of New Cingular Wireless PCS LLC, DTA No. 825318 (N.Y.S. Tax App. Trib., Feb. 16, 2016), presents a fact pattern that reflects the cost to a business owner for failing to make sales tax refunds. Here, New…
In late May of 2016, the IRS issued a warning to predominantly student taxpayers about fake phone calls allegedly from IRS representatives demanding payment for a “Federal Student Tax,” a tax which doesn’t even exist. Despite the April tax deadline…
Taxpayers that itemize personal deductions instead of claiming the standard deduction may deduct qualifying medical expenses to the extent that such expenses exceed 10 percent of adjusted gross income (“AGI”). Taxpayers that are 65 years or older, or turned 65 during the tax year,…