Author: Dawn Delia
Losing your driver’s license over unpaid taxes might sound extreme, but in New York State, it’s not just a threat — it’s a legal enforcement tool used by the New York State Department of Taxation and Finance (NYS DTF). If you owe $10,000 or more in back taxes, your driver’s license can be suspended until the
Tax season can be stressful, especially if you owe more than you can afford. While taking out a personal loan may seem like a quick solution, it’s not always the best choice. The IRS offers alternative repayment plans that are often cheaper and easier to manage. Before borrowing, it’s important to understand the pros and
If you’ve been selling goods or services online, the IRS may have its eyes on your earnings. A new reporting threshold means that millions more taxpayers will receive Form 1099-K this year, and failure to report income could result in penalties. New 1099-K Thresholds: What You Need to Know In 2024, anyone earning over $5,000 from online platforms
The Internal Revenue Service (IRS) has expanded its Direct File system for the 2024 tax season, making it available to millions more taxpayers. Initially launched as a pilot in 12 states last year, the free online filing tool is now open to eligible filers in 25 states. The program, however, faces uncertainty beyond this year
IRS Hiring Freeze Leads to Rescinded Job Offers The IRS has begun implementing a federal hiring freeze following an executive order by President Trump, resulting in revoked job offers and the removal of job postings. While the freeze is meant to be temporary for most agencies, the IRS faces an indefinite pause until the Treasury
The Social Security Administration (SSA) has announced that individual taxable earnings up to $176,100 annually will be subject to Social Security tax in 2025. This marks an increase from the $168,600 wage base in 2024. The wage base limit applies to earnings subject to the 6.2% OASDI tax (Old Age, Survivors, and Disability Insurance). At
IRS Announces 2025 Retirement Plan Dollar Limits and Thresholds The IRS has released the 2025 retirement plan dollar limits and thresholds, reflecting cost-of-living adjustments. These updates impact various retirement savings options, including 401(k) plans, SIMPLE IRAs, and more. Below is a breakdown of the most significant changes. Key 2025 Limits and Adjustments Annual Additions LimitThe
The Internal Revenue Service (IRS) has released the inflation-adjusted federal income tax brackets and standard deductions for the 2025 tax year, applicable to returns filed in 2026. 2025 Federal Income Tax Brackets The tax rates remain unchanged; however, the income thresholds have been adjusted for inflation by approximately 2.8%. 10%:Single filers: Income up to $11,925Married
The Internal Revenue Service (IRS) has announced that approximately 1 million taxpayers who did not claim the Recovery Rebate Credit on their 2021 tax returns will receive automatic payments later this month. These payments, which are part of the IRS’s ongoing efforts to assist taxpayers, are expected to arrive via direct deposit or paper check
Editor’s Note: 12/27/24: On December 26, 2024, the U.S. Court of Appeals for the Fifth Circuit paused the enforcement of the Corporate Transparency Act (CTA), thus pausing the beneficial ownership reporting requirements for U.S. small business owners. This reverses the earlier decision from December 23, 2024, to reinstate the CTA and its reporting requirements. The
Notice:
Locations listed throughout this website are for Federal IRS Practice Only, except New York and Maryland. Attorney advertisement. Prior results do not guarantee similar outcomes. (1) Attorneys of Delia Law P.C. are only licensed in the jurisdictions mentioned in their biographies and not all lawyers mentioned or displayed in Website content may be able to assist clients without adding attorneys admitted in the specific jurisdiction; (2) Delia Law P.C.’s only permanent offices are in Maryland and New York. Mentioned other locations are virtual locations, by appointment only, that are not designed to suggest or create a permanent presence; (3) Local counsel if necessary are independent and not partners or employees of Delia Law P.C.; (4) All clients of Delia Law P.C. will receive additional, written information (about the lawyer assignment/licensing in the case, our fees etc.) before making a decision to becoming a client. All website Terms and disclaimers apply.
Federal IRS Practice. Attorney advertisement. Prior results do not guarantee similar outcomes. (1) Attorneys of Delia Law P.C. are only licensed in the jurisdictions mentioned in their biographies and not all lawyers mentioned or displayed in Website content may be able to assist clients without adding attorneys admitted in the specific jurisdiction; (2) Delia Law P.C.’s only offices are in Maryland and New York. Mentioned other locations are unstaffed virtual locations, by appointment only, that are not designed to suggest or create a permanent presence; (3) Local counsel are independent and not partners or employees of Delia Law P.C.; (4) All clients of Delia Law P.C. will receive additional, written information (about the lawyer assignment/licensing in the case, our fees etc.) before making a decision to becoming a client. All website Terms and disclaimers apply.
Prior results do not guarantee similar outcomes; attorney advertising. All information on this website has been prepared for informational purposes only and does not constitute legal advice. While this information may constitute attorney advertising in some jurisdictions, merely reading this information does not create an attorney-client relationship. Every case is different, any prior result described or referred to herein cannot guarantee similar outcomes in the future. All visitors to this Website are informed that Delia Law P.C. (“Firm”) works with affiliated lawyers (referred to as “Local Counsel”) in various cities and states across the United States. These Local Counsel may assist the Firm on a case-by-case basis, operate their own respective law firms, are independent of Firm, and are not partners, owners, of counsel, or employees of Firm. Clients and prospective clients should be aware that when referencing to Firm’s experience, this experience may combine the knowledge and experience of both Firm and its frequently used Local Counsel in the aggregate. Specifically, if and when Firm cooperates with Local Counsel, Firm will disclose the details to the client in writing for their approval. Delia Law P.C. is headquartered in New York City. References to a particular city or state in any article or anywhere on this website does NOT mean that Firm maintains an office with staff in that location, and it does NOT mean that Firm has attorneys physically located in that city or state. Firm’s lawyers are only licensed to practice state law in the states mentioned in their respective biographies. With few case-by-case exceptions, Firm’s practice is limited to matters and questions of federal law and federal procedure. Firm’s engagement letter and Firm’s website disclaimers provide additional details.
