Category: Tax Laws

Can You Go to Jail for Not Paying or Filing Taxes?

5 December, 2023 | Tax Laws

Can You Go to Jail for Unfiled or Unpaid Taxes? Tax time is one of the most dreaded times of the year. Even though it’s relatively easy to file your taxes with the help of accountants and online tools, many people put off filing until the last possible moment. In extreme cases, people may choose not to file at all.    If this is the situation you find yourself i... CONTINUE READING

What Does IRS Notice CP2000 Mean? What to Do?

1 June, 2023 | Tax Issues Tax Laws Tax Notices

Taxpayer's Guide to IRS Notice CP2000 What to Expect if You Receive a Notice About Underreported Income The IRS sends out Notice CP2000 to taxpayers who have underreported their incomes. This notice makes changes to your tax return, and if you don't respond, you will incur a tax bill. Wondering what to expect? Not sure why you got this notice? Then, keep reading for an overview. To get help now, contact us at The Timothy S. Hart Law Group, P.C., toda... CONTINUE READING

From a NY Tax Lawyer- How not to spend your tax refund.

27 January, 2019 | Tax Laws

From a NY Tax Lawyer- How not to spend you tax refund   Today our NY Tax Lawyers want to share with you the 9 worst ways that you can spend your tax refund this year.  Here they are: Using the tax refund as a down payment on a new car.  While initially fun and exciting, upgrading your ride will increase your overall monthly expenses (insurance, car payments, maintenan... CONTINUE READING

Small Company Tax Basics

16 December, 2018 | Tax Laws

Small Company Tax Basics Being a small business owner is something that many people strive for and want to achieve, as they don’t want to rely on others and there is more potential in being a small business owner. Having your own business has many advantages but there are also many things you must be aware of and deal with. Small business tax problems is something that every business owner has to carefully manage and it is not always easy. There is more... CONTINUE READING

New Tax Act and Additional Itemized Deduction Implications

18 January, 2018 | Tax Laws

New Tax Act and Additional Itemized Deduction Implications Individual taxpayers should be aware of major changes that will be implemented this year for their 2018 return. Even though it seems still like a long time to April 2019, it is necessary to have some impression about the new Tax Act and how it might affect you. Due to changes in the tax brackets, itemized deductions, and personal exemptions, etc this is one of the most significant changes in the t... CONTINUE READING

Tax Reform and How Tax Reform Affects You as An Individual

9 January, 2018 | Tax Laws

Tax Reform and How Tax Reform Affects You as An Individual On Dec. 22, 2017, President Trump signed the “Tax Cuts and Job Act” into the law. The Senate passed the bill on Dec. 20 and the House passed the bill later. The bill individual tax cut is temporarily until 2025. The income tax overhaul is forecast to raise the federal deficits by substantial amounts, so not a welcome change unless spending is curtailed. People who take itemized deductions in h... CONTINUE READING

Petitioning the U.S. Tax Court

27 October, 2013 | Tax Laws

Petitioning the U.S. Tax Court A taxpayer may petition the United States Tax Court ( if they have received a Notice of Deficiency, a Notice of Determination Concerning Collection Action, or a Notice of Determination of Worker Classification from the IRS. Once the IRS... CONTINUE READING

Tax Attorney, A few reasons to hire one

10 September, 2013 | Tax Laws

Tax Attorney, A few reasons to hire one Based upon our experience, these are the most common reasons why our clients hired a tax attorney. 1. You are afraid to deal with the New York State Tax Department or the Internal Revenue Service about your tax issue and you want a tax attorney to handle the matter. Our clients have the peace of mind knowing their case is being handled by a licensed professional with a tax law firm that has a A+ BBB rating.... CONTINUE READING

Business Loss or a Hobby Loss for Taxes

25 August, 2013 | Tax Laws

NYC and Albany NY IRS Tax Attorney As Tax Attorney's located in New York, we often receive inquiries from clients who have a number of unfiled tax returns on whether a loss is a business loss or a Hobby loss when they contact us needing a IRS Attorney. If the loss is a Hobby loss, in general it can not be used to offset other forms of taxable income. In many cases, it is not a clear issue. The issue has also been a difficult one for the IRS to resolve, an... CONTINUE READING

The New IRS Home Office Deduction

2 August, 2013 | Tax Laws

The New IRS Home Office Deduction About four (4) million workers in the United States work from home.  Starting with the 2013 tax year, the Internal Revenue Service is allowing a simplified home-office deduction. The rationale behind the new method of deducting these expenses is that it simplifies the record keeping that most people are not complying with currently which causes income tax audit issues. Therefore, this new method is good for people who do... CONTINUE READING

Understanding NY Restaurant Sales Tax Compliance

Restaurant Sales Tax New York State — Rules and Failed Compliance Complex tax rules govern when, how, and for which products New York restaurants and bars can collect sales tax. It is crucial t...