Good morning — Here are three things you need to know this Tax Day:
“In this world nothing can be said to be certain, except death and taxes. …”Benjamin Franklin
- According to the IRS, residents can file their income tax returns directly online for free with the new Direct File pilot, which the federal government rolled out this year.
- The average American, who made higher wages this year, is expected to pay more on taxes because federal tax returns are progressive, according to the IRS.
- You can also request a six-month extension for filing your tax returns. But if you expect to owe money, the IRS recommends you send a payment by April 15 to avoid interest and other penalties.
Keep reading for a bite-sized look at what we’re hearing.
Former President Trump’s Tax Cuts and Jobs Act, which established the $10,000 cap for state and local tax deductions, expires in December 2025. But that could depend on the outcome of the 2024 presidential election this November. The SALT cap disproportionately hurts taxpayers in states, like New York and Connecticut, while benefiting states like Texas and Florida. Rep. Nick LaLota (R-NY) said during a recent House Small Business Committee meeting that he’s concerned for small businesses and families on Long Island.
Connecticut regulators are urging medical cannabis users to obtain their medicine before April 20 to ensure access to marijuana. The state Department of Consumer Protection is aware of the expected increase in cannabis demand on “4-20.” Connecticut has nearly 41,000 registered medical users of marijuana.
Long Island town supervisors oppose the NY HEAT ACT. The bill would stop utilities from installing natural gas hookups to customers for free. It would also decommission the gas network over time, forcing existing customers off. Town Supervisors Angie Carpenter of Islip and Rich Schaffer of Babylon said it’s unfair to Long Island business owners who pay some of the highest property taxes in the state. They also say a quick transition to clean energy is too risky because energy systems in coastal communities are already vulnerable.
Yale University purchased a former Seamless Rubber Co. factory for just over $2.5 million. The property is about a block away from Yale New Haven Hospital. The university agreed to pay an amount over the next 12 years before becoming tax-exempt.
Eversource Energy and United Illuminating are resuming service shutoffs for unpaid bills in Connecticut starting May 2. Legislation is being considered to simplify disconnections for severely ill patients. The companies say financial hardship programs and payment plans are available.
Northwell Health must refund more than 2,000 patients who were wrongfully charged for COVID-19 tests during the first year of the pandemic. The New York Attorney General’s Office announced an additional $650,000 fine for the state’s largest private hospital system. Many of the patients paid for testing at emergency departments when federal and state laws at the time prohibited charges and cost-sharing for those with insurance.
The Village of Islandia plans to eliminate property taxes once the Jake’s 58 casino expansion is complete. Suffolk Off-Track Betting plans to complete a $210 million expansion of Jake’s 58 over at least the next two years. Suffolk OTB payments to Islandia will nearly double to more than $4 million, saving taxpayers up to $500 on their annual property tax bill.
A Hamden company that allegedly made lethal injection drugs in secret for the federal government is under investigation, according to the Connecticut Attorney General’s Office. The HBO show Last Week Tonight with John Oliver raised questions about Absolute Standards, which makes laboratory testing equipment, according to the company website. Oliver points to public records that show a pentobarbital may have been supplied to the federal Bureau of Prisons and Arizona.
Suffolk County police have arrested a parent for threatening to shoot up Half Hollow East High School in Dix Hills. The threats were directed at an administrator in the central office. Christopher Ryan was charged with a misdemeanor of making a threat of mass harm and banned from district properties and school events.
Desiree Diorio, Sabrina Garone and Madi Steddick contributed reporting.
