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New York Considers New Taxes on Guns and Ammunition

CPA Practice

Firearms and ammunition are already subject to New York sales tax. If New York State Senate Bill 7733 is enacted, it will place an additional excise tax on the sale of firearms and ammunition in the Empire State. Will New York tax all guns and ammunition? By Gail Cole. This could be every two years or more.

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New York partners with IRS on free tax prep

Accounting Today

New York State and the Internal Revenue Service have developed a new program that allows eligible New Yorkers to e-file their federal and state personal income tax returns for free.

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KPMG faces fresh questions over audits after New York Community turmoil

Accounting Today

New York Community's recent disclosures that it had financial reporting weaknesses in 2023 raises new questions over the auditors' role. The auditing giant KPMG audited the three regional banks that failed last year.

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New York Minimum Wage to Increase Starting in 2024

CPA Practice

The minimum wage will increase to $16 an hour in New York City and Westchester, Nassau and Suffolk counties and to $15 an hour in all other areas of the state on Jan. For Upstate New York, that’s an increase of 5.6% The raises could be stopped in any year when the inflation index shows prices are falling, the News said.

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Professional Tax Help in New York: Taxpayers Facing Tax Audits, Back Taxes, and 941 Payroll Tax Problems

MyIRSRelief

New York is known for being a hub of commerce, culture, and innovation, attracting businesses and individuals from all over the world. In these situations, seeking professional tax help in New York can make a significant difference in resolving your tax problems and avoiding legal and financial consequences.

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Hochul rejects New York tax hikes, touts NYC housing breaks

Accounting Today

Governor Kathy Hochul called for a new tax break to promote affordable housing and increase support for fighting crime in New York City.

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California and New York Are Losing More Residents to Low-Tax States, IRS Says

CPA Practice

That idea is supported by migration data, recently released by the IRS, showing that taxpayers are leaving notoriously high-tax states like California and New York and choosing to live instead in low-tax states. New York and California gained some residents, but far fewer than the numbers lost. billion in AGI to Texas.

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