The Facts CPA
Empowering Individuals and Businesses with Comprehensive Tax Solutions in New York
As a leading tax CPA firm in New York, we offer a comprehensive suite of services to meet the diverse needs of individuals and business owners. Our team is dedicated to providing personalized, strategic, and proactive tax guidance from preparation, to representation, to resolution, to staying compliant and planning to help our clients maximize their financial success.
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The IRS Just Made Penalty Relief Automatic. Sort Of.
If you’ve got a clean track record with the IRS, I’ve got some good news for you. The IRS just announced a new program called Automatic Exemption from Penalty (AEP), and it’s replacing the old First Time Abate process that’s been around forever. Here’s the deal. Starting with tax year 2025 and 2026 quarterly returns,…
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Millions of Taxpayers May Be Owed Refunds and the Clock Is Ticking
A recent Tax Court decision could mean big refunds for taxpayers who were hit with penalties and interest during the COVID-19 pandemic. But here’s the catch: most people need to file a claim by July 10, 2026, or they could lose out entirely. The case, Kwong v. United States, interpreted a disaster-relief provision in the…