Category Archives: General

Most taxpayers who requested an extension to file their 2021 tax return must file by Oct. 15

October 15 is the filing extension deadline. Most taxpayers who requested an extension of time to file their 2020 tax return must file tomorrow to avoid the penalty for filing late. Extension filers who owe taxes should pay as much … Continue reading

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Americans Quit Their Jobs at a Record Pace in August

The Labor Department said yesterday that Americans quitting their jobs jumped to 4.3 million in August, the highest on records dating back to December 2000, and up from 4 million in July. That’s equivalent to nearly 3% of the workforce. … Continue reading

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Consumers Weren’t Discharged Under Section 1141(d)(6)(A)

Reversing the bankruptcy court while expounding and expanding on the Supreme Court’s Cohen decision, District Judge Paul A. Engelmayer of New York ruled that a civil penalty imposed by the Federal Communications Commission for defrauding consumers is not discharged in … Continue reading

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What employers need to know when classifying workers as employees or independent contractors

It is critical for business owners to correctly determine whether the individuals providing services are employees or independent contractors. An employee is generally considered anyone who performs services, if the business can control what will be done and how it … Continue reading

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L.A. Man Admits Fraudulently Obtaining $9 Million in COVID-19 Loans

A Los Angeles man has pleaded guilty to fraudulently obtaining $9 million in loans from COVID-relief programs, some of which he transferred to his stock trading accounts and used for gambling trips to Las Vegas, federal prosecutors said. Andrew Marnell … Continue reading

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IRS: New contracts awarded to private collection agencies; taxpayers may be contacted by one of three groups

The Internal Revenue Service has awarded new contracts to three private-sector collection agencies for collection of overdue tax debts. The new contracts begin Thursday following today’s expiration of the old contracts. Beginning Thursday, Sept. 23, 2021, taxpayers with unpaid tax … Continue reading

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St. Louis remote workers fight for earnings tax refund

A St. Louis city attorney argued in court that payers of the city earnings tax who worked from home last year would each need to file individual lawsuits against the city if they want refunds. A lawyer for St. Louis … Continue reading

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Here’s how a taxpayer’s custody situation may affect their advance child tax credit payments

Parents who share custody of their children should be aware of how the advance child tax credit payments are distributed. It is important to remember that these are advance payments of a tax credit that taxpayers expect to claim on … Continue reading

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Consumer Spending Rose as Inflation Held Firm in August

Inflation held firm in August as consumer spending rebounded sharply from a July decline, according to data released Friday by the Commerce Department. The personal consumption expenditures (PCE) index, the Federal Reserve’s preferred gauge of consumer price growth, rose 0.4 … Continue reading

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California’s Eviction Moratorium Ends, Leaving Tenants Facing ‘Tsunami of Evictions’

California may become a ground zero for a homelessness crisis, as the end of the state’s temporary halt to evictions — which officially expired last Thursday — means renters in arrears face the prospect of being forced from their homes. … Continue reading

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