Tax Updates

Tax Alert: August 2026 Deadlines for Filing the NYC Pied-à-Terre Surcharge Exemption Application
Tax Alert: August 2026 Deadlines for Filing the NYC Pied-à-Terre Surcharge Exemption Application 1200 1200 SAX - Advisory, Audit and Accounting

The New York City Department of Finance (the “Department”) has released a pied-à-terre surcharge exemption application (the “application”). Residential Homes and Condominiums Application Filing Deadline – August 21, 2026 File…

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Tax Alert: NYC Adopts Final Regulation and Issues Interpretive Policies on the Pied-à-Terre Tax
Tax Alert: NYC Adopts Final Regulation and Issues Interpretive Policies on the Pied-à-Terre Tax 1200 1200 SAX - Advisory, Audit and Accounting

What the Department of Finance’s newly adopted rules—19 RCNY Chapter 62—mean for owners of high-value New York City second homes. Overview On May 28, 2026, New York State enacted a…

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Tax Alert: Construction Clients Potential Refund Claim
Tax Alert: Construction Clients Potential Refund Claim 1200 1200 SAX - Advisory, Audit and Accounting

There are two potential sales and use tax refund opportunities available to construction owners, developers and contractors as it relates to Site Safety Expenses and Bridge and Pipeframe rentals. Site…

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Tax Alert: Proposed Florida Property Tax Changes
Tax Alert: Proposed Florida Property Tax Changes 1200 1200 SAX - Advisory, Audit and Accounting

Overview of Proposed Florida Property Tax Changes  Florida lawmakers have advanced a major property tax reform initiative that would materially expand the homestead exemption for primary residences. The proposal, titled…

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OMB Proposes Major Changes to Federal Grant Rules Again
OMB Proposes Major Changes to Federal Grant Rules Again 1200 1200 SAX - Advisory, Audit and Accounting

In 2024, OMB revised the Uniform Guidance with the goal of reducing administrative burden for federal funding recipients. The latest proposal takes a different approach.  On May 29, 2026, OMB…

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Tax Alert: New York State Enacts Pied-à-Terre Tax for Second Homes in New York City
Tax Alert: New York State Enacts Pied-à-Terre Tax for Second Homes in New York City 1200 1200 SAX - Advisory, Audit and Accounting

Overview New York State has enacted a new pied-à-terre tax (surcharge) on certain high-value New York City homes (“covered properties”) NOT used as a primary residence. “Covered properties” include Class…

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Tax Alert: COVID Postponement Refund Claims and IRS ERC Update
Tax Alert: COVID Postponement Refund Claims and IRS ERC Update 1200 1200 SAX - Advisory, Audit and Accounting

Two court case decisions (Kwong v. United States and Abdo v. Commissioner) may create refund and abatement opportunities for certain taxpayers who were assessed and/or paid penalties and interest during…

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U.S. Tariffs: What Just Happened—and What It Means
U.S. Tariffs: What Just Happened—and What It Means 1200 1200 SAX - Advisory, Audit and Accounting

The U.S. tariff landscape continues to shift rapidly. On Friday, February 20, 2026, the Supreme Court issued a landmark decision striking down the president’s authority to impose sweeping tariffs under the International Emergency Economic Powers…

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The New Tax Law & Charitable Giving: Key Questions and Strategic Considerations for Nonprofits
The New Tax Law & Charitable Giving: Key Questions and Strategic Considerations for Nonprofits 1200 1200 SAX - Advisory, Audit and Accounting

The New Tax Law: What Nonprofits Should Be Thinking About Right Now Tax laws change. Donor behavior changes. Your mission does not. Still, it would be a mistake to ignore…

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Tax Alert: Component Election for Bonus Depreciation
Tax Alert: Component Election for Bonus Depreciation 1200 1200 SAX - Advisory, Audit and Accounting

Return of Component Election for Bonus Depreciation Creates  Significant Tax Savings for Self-Constructed Projects Taxpayers who started construction on any project prior to the 100% Bonus Depreciation change on January…

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