NYC issues initial pied-à-terre tax notices to owners of luxury second residences
The Mamdani administration has rolled out the guidelines for the city’s new pied-à-terre tax, with the first notices expected to be sent out in the coming weeks. As reported, the City Finance Department plans to inform owners of numerous luxury secondary residences by August 30th about their tax obligations, according to the latest draft guidelines. […]
Democrats Attempt to Revive Jimmy Carter’s Oil Tax
Democrats Propose Oil Tax Similar to Carter Era A push is underway from Democratic lawmakers to revive a tax targeting oil producers that harks back to the Carter administration. Senator Sheldon Whitehouse of Rhode Island and Representative Ro Khanna from California have reintroduced the Big Oil Windfall Profits Tax Act, as noted in a recent […]
Architect of California billionaires tax makes outrageous assertion
The designer behind California’s debated billionaire tax has expressed concerns that the proposal is pushing wealthy individuals to leave the state. Despite this, SEIU-United Health Care Workers West President Dave Regan dismissed these claims as “totally fabricated,” even as reports suggest an increasing number of billionaires are either departing or mulling over the idea ahead […]
Ro Khanna criticizes Gavin Newsom’s national billionaire tax as hypocritical.
California Governor Gavin Newsom’s backing of a national billionaire tax is facing criticism from fellow Democrats, including Representative Ro Khanna. Khanna supports a state-level version of the tax, which proposes a one-time 5% rate as decided by voters. During a press conference on Friday, Khanna harshly critiqued Newsom for not advocating for the national tax […]
RELLIS Data and Research Center begins anew as Bryan agrees to new tax deal
Bryan City Council Approves Tax Abatement for RELLIS Data Center BRYAN, Texas – After numerous delays, a bankruptcy filing, and two postponed votes, the Bryan City Council recently gave the green light to a tax abatement agreement for the data and research center being constructed on the RELLIS campus. This decision came during a special […]
Indiana legislator suggests replacing property taxes with a new service tax
Indiana Lawmaker Proposes Overhaul of Property Tax System LOUISVILLE, Ky. – Indiana legislators are considering a significant change to the state’s tax structure, aiming to abolish the property tax system completely. In its place, Republican state Rep. J.D. Prescott is promoting a 7% sales tax on various services. Currently, Indiana generates around $10 billion from […]
Florida and Texas may attract billionaires if California’s wealth tax is approved.
California Billionaire Tax Faces Legal Challenge Amid Opposition from Newsom In California, a new wealth tax aimed at billionaires is stirring controversy and legal scrutiny. The proposed legislation, a one-time 5% tax aimed at residents with over $1 billion in assets, would take effect retroactively from January 1, 2026. Governor Gavin Newsom, however, has voiced […]
Gavin Newsom unable to block California billionaire tax as proposal moves to November vote
California Ballot Measure Announced California Secretary of State Shirley N. Weber has put forward a new measure that aims to require audits of programs supported by new state special taxes. This initiative is set to be included in the November 2026 general election ballot. Details about what prompted this measure seem somewhat vague, though it […]
Undocumented Immigrant Receives 8-Year Sentence for $89 Million Payroll Tax Fraud Scheme
Illegal Immigrant Sentenced for Payroll Tax Fraud The Department of Justice (DOJ) announced on Wednesday that a Honduran national has been sentenced to eight years in prison for running an extensive cash payroll system that illegally employed migrants. The scheme reportedly involved nearly $89 million over several years. Mario Flores pleaded guilty in March to […]
IRS performed better than anticipated during tax season despite reducing its workforce, except in phone support, according to a watchdog.
IRS Performance in 2026 Tax Season WASHINGTON — The IRS managed to disburse refunds surprisingly well during the 2026 tax season, despite significant staffing reductions. However, national taxpayer advocates express concerns that many who sought assistance were left without adequate help. “Taxpayers in need of IRS support frequently struggled to get it,” noted Erin M. […]