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IRS and Ida: A Hurricane of Relief to Sweep the Northeast

  • IRS extends tax-related deadlines for areas affected by Ida
  • Other forms of federal relief for hurricane victims

Summary

Last week, Louisianan victims of Hurricane Ida received their share of federal assistance. This week, it’s the Northeast’s turn.

The Biden administration … Continue reading

 

Deducing Deductions: 2021 Charitable Donations

  • How have charitable contributions changed since the CARES Act?
  • What to expect for next year’s filing season?

Background & Summary

The CARES Act of 2020 was first passed to establish benefits for taxpayers struggling in the midst of the pandemic-started … Continue reading

 

3 Stories to Start Your Week: August 30, 2021

Biden Still Set to Eliminate Student Debt

Last Thursday, the Department of Education announced yet another round of student loan cancellation. This time, $1.1 billion in student debt will be forgiven for a total of 115,000 borrowers.

The previous round … Continue reading

 

Meet Tom Long

Associate, Marketing & Research

In DSJ’s company culture of hard work and integrity, Associate Tom Long certainly fits right in. But when it comes to everything else in life, he’d prefer to stand out.

“I feel like everyone has turned … Continue reading

 

Employee Retention Credit: More Guidance, More Confusion

The Employee Retention Credit (ERC) — famed for its cryptic and dynamic nature — has just been re-informed by new IRS guidance. Whereas most guidance intends to avoid confusion, IRS Notice 2021-49 seems to only create more concern around this … Continue reading

 

3 Stories to Start Your Week: August 23, 2021

Is There A Stimulus Among Us?

After months of expanded federal assistance programs from President Biden, coupled with the fast-growing spread of the COVID-19 Delta variant, Americans are wondering if and when we can expect a fourth round of economic Continue reading

 

Do The Math: Supplemental Wage Taxes For New Yorkers

Signed earlier this year in April, the New York State fiscal year 2022 budget brought about a whirlwind of changes for the state and new tax implications for residents.

Perhaps overlooked, but a notable difference that will affect all Continue reading

 

NYS Cracks Down on Tax Audits: The Telecommute Taxing Dispute

  • NY is cracking down on telecommuter tax audits – but is the state targeting the wrong individuals?

New York has always been a notorious stickler for tax collecting. Whereas the state typically targets high net worth individuals (AGI over $1 … Continue reading

 

Putting a Price on Olympic Glory: How Much Do Olympians Pay in Taxes?

  • Olympians pay how much in taxes?!
  • What is the Olympic & Paralympic Act?

Overview

This year’s Tokyo 2020 Summer Olympics may have just come to an end, but the Games’ financial fun is just beginning. Olympians who earned medals this … Continue reading

 

What Happened With EY & The Importance Audit Independence

  • EY hit with a $10 million fine violating auditor independence rules
  • What is audit independence and why does it matter?

Last week, the SEC charged Ernst & Young (EY) with a hefty $10 million fine following investigation for misconduct in … Continue reading