The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
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Washington DC, in a bold political move, the Trump administration has formally asked the Internal Revenue Service (IRS) to revoke Harvard University’s tax-exempt status, following criticism that the Ivy League institution is promoting political and ideological agendas.
Continue reading Trump Administration Urges IRS to Revoke Harvard University’s Tax-Exempt Status
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Ridgewood NJ, April 15th, often dreaded as Tax Day in the United States, echoes a truth spoken more than 230 years ago by Benjamin Franklin: “In this world, nothing is certain except death and taxes.” That statement, made in 1789, still rings true today as Americans navigate a complex and ever-evolving tax system.
Continue reading Death, Taxes, and History: How U.S. Taxation Evolved from 1789 to Today
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Ridgewood Nj, the IRS has just released new 401(k) contribution limits for 2025, bringing some exciting news for retirement savers. Beginning in the new year, the maximum annual employee contribution will increase to $23,500, a slight boost from the 2024 limit of $23,000. This adjustment applies across various workplace retirement plans, including 401(k)s, 403(b)s, most 457 plans, and the federal Thrift Savings Plan.
Continue reading IRS Increases 401(k) Contribution Limits for 2025: Here’s What You Need to Know
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Ridgewood NJ,in a controversial move, Chaz Littljohn has received a lenient plea deal from the Biden Department of Justice (DOJ) despite being accused of a significant data breach involving taxpayer information. Littljohn was charged with a single count of stealing tax returns, even though the DOJ initially stated that he had stolen up to 15 years’ worth of returns from thousands of taxpayers. Recent revelations now confirm that he stole returns from at least 50,000, and potentially up to 70,000, taxpayers.
Continue reading Controversy Over DOJ’s Plea Deal with Tax Return Thief Chaz Littljohn
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Hoboken N J, a Hudson County, , woman was sentenced today to 60 months in prison for stealing over $1.5 million from over 100 victims made up mainly of non-profits, private schools, and religious institutions throughout New Jersey, U.S. Attorney Philip R. Sellinger announced.
photos courtesy of Ridgewood Schools
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Ridgewood NJ, April 15th is just a hop, skip, and a jump away, so some RHS students in Mrs. Anderson’s Statistics with Finance course learned about filing taxes and completed a 1040 form activity, using either their own W2 or a sample W2 to file their 2023 tax return!
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Ridgewood NJ, as the Internal Revenue Service (IRS) announced changes to federal income tax brackets to protect workers from inflation, Senator Anthony M. Bucco called for New Jersey lawmakers to advance his legislation to prevent tax bracket creep at the state level for New Jerseyans.
Continue reading Tax Bracket Creep Will Continue to Drive NJ Income Tax Bills Higher
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Ridgewood NJ, the Ridgewood Board of Education President Mike Lembo used the Sommerville-Hawes Dads Night email list to send out a promotional email for his Ridgewood Board of Education campaign in volition of the and ban on political activity by 501(c)(3) organizations.
According to the U.S. Sentencing Commission, fewer than 400 people are sent to jail each year for committing tax fraud. That’s an incredibly low number when you consider that 330 million people live in the U.S. right now.
Continue reading Tax Evasion Statute of Limitations: What to Know
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Hoboken NJ, a Hudson County, New Jersey, woman pleaded guilty today to stealing over $1.5 million from over 100 victims made up mainly of non-profits, private schools, and religious institutions throughout New Jersey, U.S. Attorney Philip R. Sellinger announced.
Continue reading WalletHub Study: New Jersey Has the 9th Highest Tax Rates in the Country
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Ridgewood NJ, the 87,000 new agents being hired by the IRS will make the IRS larger than the US Army . The IRS will have 3.6 million employees compared to the US Army of 1.4 million . The head of the Internal Revenue Service claims that the tax collecting agency will “absolutely not” use $80 billion in new funding to step up audits of low- and middle-income Americans, but recent history would refute that .
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North Haledon NJ, former benefit plan administrator today admitted engaging in multiple years of tax evasion and a kickback scheme related to his role as administrator of two union related employee benefit plans, U.S. Attorney Philip R. Sellinger announced.
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River Edge NJ, a Bergen County, woman was sentenced today to 27 months in prison for participating in a multi-year embezzlement scheme and subscribing to a false personal income tax return, U.S. Attorney Philip R. Sellinger announced.
FTC Sues Intuit for Its Deceptive TurboTax “free” Filing Campaign
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Ridgewood NJ, the Federal Trade Commission is taking action against Intuit Inc., the maker of the popular TurboTax tax filing software, by issuing an administrative complaint against the company for deceiving consumers with bogus advertisements pitching “free” tax filing that millions of consumers could not use. In addition, to prevent ongoing harm to consumers rushing to file their taxes, the Commission also filed a federal district court complaint asking a court to order Intuit to halt its deceptive advertising immediately.
Continue reading So We Guess TurboTax is Not Really Free ,Free after all