Rising longer-term interest rates yielding 5.25%10-year Treasury marked the highest level in ten months. In early March, the 10-year yield was 4.5%. Because many consumer and corporate loans are tied to the 10-year Treasury, effective loan interest rates are rising....
6% growth in the first quarter signals a possible recession. The housing market in New Jersey and many states is in decline. Housing and construction businesses are hurting. Mortgage brokers are closing and real estate brokers are contracting. Moving companies are in...
The US Supreme Court has ruled the US Tax Court is the proper court for appeals of IRS denials of interest abatements. The Court held the Court of Federal Claims did not have concurrent jurisdiction. The complete decision is Hink v. US. see: http://www.TaxEsq.com
America’s lowest-paid workers will get a $2.10 raise, if the keep their jobs, by Congress mandating an increase in the federal minimum wage. Despite the well-known harmful loss in employment by teens and the lowest skilled workers,President Bush was expected to sign...
The Internal Revenue Service announced on April 26, 2007, tax relief for New Jersey and New York taxpayers in the Presidential Disaster Area that was struck by severe storms and flooding April 14-18, 2007. The disaster area consists of the following counties: Bergen,...
Effective May 31, 2007, Intuit will no longer provide support for the 2004 versions of QuickBooks Pro, Premier and Enterprise Solutions. If you are running either of these applications, this means that your access to technical support and other business services will...
The Christian Science Monitor reports that “[s]lightly over half of all Americans – 52.6 percent – now receive significant income from government programs, according to an analysis by Gary Shilling, an economist in Springfield, N.J. That’s up from 49.4 percent in 2000...
WASHINGTON, D.C. – The United States has filed civil injunction suits against five corporations that operate Jackson Hewitt tax preparation franchises, as well as 24 individuals who manage or work at the franchises, the Justice Department and the Internal Revenue...
The clock is ticking down to the tax filing deadline. The good news: There may still be an opportunity to save on your tax bill. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 17, 2007 filing date and still benefit...