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Constitutionality of the Corporate Transparency Act...
On March 1, 2024, the U.S. District Court in Alabama declared the Corporate Transparency Act (CTA) unconstitutional, challenging its mandate for a national database of business owners aimed at... Read More > -
Introducing the Enhanced 2023 Senior Freeze Program in New...
Introducing the Enhanced 2023 Senior Freeze Program in New Jersey: The New Jersey Division of Taxation launches the improved Senior Freeze program for eligible seniors statewide. Key updates include... Read More > -
Navigating ERC Compliance: Identifying Red Flags and...
The IRS has flagged warning signs for potential inaccuracies in Employee Retention Credit (ERC) claims, urging businesses to act swiftly before the March 22, 2024 deadline. Red flags include... Read More > -
S Corporation Update: New Jersey Enhances Guidelines for S...
The New Jersey Division of Taxation has updated guidelines for S corporation elections, streamlining procedures for shareholder consent. When registering a new business through the NJ-REG system,... Read More > -
Navigate Tax Regulations Effortlessly with 2024 IRS Mileage ...
Stay ahead of the curve in 2024 with IRS's newly released standard mileage rates. For business use, the rate rises to 67 cents per mile. Medical or moving purposes see a decrease to 21 cents per... Read More > -
Updated Guidance on Tax Withholding for Nonresidents...
The New Jersey Division of Taxation updated guidance on tax withholding for nonresident real estate sellers. Nonresidents must withhold income tax at 10.75% of the gain or 2% of total consideration.... Read More > -
New Jersey Raises Interest Rates on Outstanding Tax...
The New Jersey Division of Taxation raised the interest rate on tax balances for 2024, from 11.25% to 11.50%. This change affects individuals and businesses, increasing the cost of overdue taxes.... Read More > -
New Jersey Introduces 2024 Social Equity Excise Fee for...
The New Jersey Division of Taxation has adjusted the Social Equity Excise Fee (SEEF) for recreational cannabis, effective January 1, 2024. Class 1 license holders must now file monthly tax returns... Read More > -
Key Changes in New Jersey’s 2023 Income Tax Returns...
As New Jersey residents gear up for the 2023 income tax season, the Division of Taxation unveils crucial adjustments. The filing deadline extends to April 15, 2024, granting extra time. Contribution... Read More >