New York

New York is considering a $100 million property tax break for a new Hudson Yards skyscraper proposed by developer Tishman Speyer.

IRS CEO Frank Bisignano met with tax professionals from the New York area during the IRS's Nationwide Tax Forum in New York City.

The rollout of New York's pied-à-terre tax can proceed for now after an appeals court temporarily put a hold on a Staten Island judge's order blocking the plan.

Grassi, a Top 75 Firm based in New York, has added Hoffman Mulligan, strengthening its high-net-worth and tax practice capabilities and expanding its presence in New York City.

Trump in a social media post argued that the policy was costing the city by driving away wealthy people who would otherwise pay taxes there.

The suing homeowners said the city caused "mass confusion" with its identification of thousands of properties potentially subject to the tax on second homes.

The Top 50 Firm will acquire T. Gschwender & Associates, expanding its ability to serve banks, credit unison and other financial institutions.

The levy targets single-family homes worth $5 million or more and apartments worth $1 million or more.

San Jose, California-based PP&Co acquired Ami Shah, and Mid-Atlantic Regional Leader LMC opened a new office with the addition of Ricky Spike and his team from Ives, Sultan & Spike CPAs.

Mayor Zohran Mamdani defended the rollout of a new tax on highly valued second homes in New York City, saying only property owners who receive a letter from city officials will be impacted by the levy.

A windfall in corporate profits for the largest banks has led to billions in extra tax revenue for New York City, shrinking the city's budget shortfalls.

Frustrated real estate lawyers are pleading with New York City officials for more details on how a new tax on luxury second homes is going to work.

UHY has added RBT CPAs LLP, expanding the Michigan-based Top 50 Firm's presence to New York's Hudson Valley and bolstering its wealth management practice.

The super wealthy are accustomed to finding ways to shrink their tax bills. But with New York City's new levy, many are learning they might just have to pony up.

The so-called pied-à-terre tax is expected to take effect July 1 this year and would affect roughly 10,000 single family homes, coops and condominiums citywide.

JPMorgan Chase & Co. Chief Executive Jamie Dimon criticized plans by New York's left-leaning mayor Zohran Mamdani to slap more taxes on the rich, arguing the move risks doing further damage to the city's status as a business hub.

The New York City mayor held individual meetings with Chase CEO Jamie Dimon and Goldman Sachs CEO David Solomon, amid flurry of recent tax proposals.

The proposed tax would be levied at 1% of the purchase price and would be paid by the buyer.

For a small number of New Yorkers who own luxury second homes in the city, the prospect of seeing their property tax rates go up is still alive.

New York City Mayor Zohran Mamdani has ditched his plan to raise New Yorkers' property taxes, an unpopular measure he threatened to use to help close a deficit.