Securing Europe’s Breadbasket: EU’s Bold Move on Russian Grain Tariffs
In a move aimed at safeguarding its markets and supporting Ukraine, the European Commission (EU) has proposed a tariff increase on grain imports from Russia and Belarus. The proposal, issued on March 22, 2024, seeks to address several pressing concerns and challenges the European Union faces. European Union President Ursula von der Leyen spoke about the necessity […]
Chicago’s Property Tax Turmoil: Challenges After “Mansion Tax” Rejection
In a move that could significantly shape the direction of Chicago’s future housing policies, voters resoundingly rejected Mayor Brandon Johnson’s proposal to impose a tax hike on real estate transactions exceeding $1 million. The “Mansion Tax” measure, aimed at channeling funds into combating homelessness and supporting affordable housing initiatives, faced opposition from just over half […]
The $14.6 Billion Question: How a Massachusetts Endowment Tax Could Reshape Higher Education
The Massachusetts state legislature is currently deliberating on a bill that could have far-reaching consequences for the state’s academic institutions, including heavy-hitters like Harvard University and the Massachusetts Institute of Technology (MIT). Titled “An Act to Support Educational Opportunity for All,” the proposed legislation targets private universities in Massachusetts with endowments exceeding $1 billion. If passed, the bill […]
DOJ Cracks Down on North Korean Cybercrime: Largest Fraud Case Ever Charged
The recent unsealing of court documents by the Department of Justice (DOJ) has exposed a sophisticated cybercrime operation orchestrated by North Korean IT workers. The situation has had massive financial implications. These individuals utilized stolen or borrowed identities to infiltrate U.S. companies’ networks, defrauding them and contributing to North Korea’s weapons program in violation of U.S. and […]
Inside Macy’s $154 Million Accounting Fiasco: What It Means for Retailers and the Future of Financial Oversight
Macy’s, the iconic American retailer known for its Thanksgiving Day Parade in New York City, is reeling from a massive accounting blunder that has sent shockwaves through its financial standing and investor community. November 25, the company announced a delay in releasing its third-quarter earnings, after an error—amounting to a staggering $154 million—was discovered in […]
State Accepts Payment Plan in Brooklyn, NY
State Accepts Payment Plan in Brooklyn, NY State Payment Plan – 11-15-2005 Taxpayer Situation: Taxpayer owed the New York State Department of Taxation for tax years 1997-2003. Taxpayer had outstanding returns for 2001 through 2004. Resolution Outcome: Legacy Tax & Resolution Services successfully prepared and filed outstanding returns and negotiating with the New York State Department of […]
Are You Missing Out on the Increased Child Tax Credit?
Article Highlights: American Rescue Plan Act 2021 Enhanced Child Tax Credit Credit Phaseout Advance Payments TIGTA Report Millions Entitled to But Did Not Receive the Credit Credit Still Available to Those That Qualify The American Rescue Plan Act of 2021, also referred to as the COVID-19 Stimulus Package or ARPA, was a $1.9 trillion bill […]
IRS Accepts Original Unfiled Returns in Farmingville, NY
IRS Accepts Original Unfiled Returns in Farmingville, NY IRS Replacement of Substitute For Returns – 09-15-2005 Taxpayer Situation: As a result of the taxpayer’s failure to file returns, the IRS aggressively threatened to file Substitute for Returns and sending overdue tax return notices. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiated an Internal Revenue Service […]
Video Tips: The IRS Warns Taxpayers of Increasing IRS Scams
The Internal Revenue Service on Sept. 28, 2022, warned taxpayers of a recent increase in IRS-themed texting scams aimed at stealing personal and financial information. This video will give a brief description of what to watch out for and how you can possibly identify a scam.
IRS Accepts Release of Lien in White Plains, NY
IRS Accepts Release of Lien in White Plains, NY IRS Release of Lien – 09-15-2005 Taxpayer Situation: The taxpayers had outstanding tax liabilities for 1999- 2003 in the amount of $54,456. The taxpayers were current on all tax returns. Resolution Outcome: Legacy Tax & Resolution Services successfully negotiated an Internal Revenue Service release of lien for a […]