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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 > -
Understanding the 2024 IRS Updates on Estate and Gift Tax...
In 2024, significant changes to the IRS regulations regarding estate and gift tax exemptions are set to take effect. These updates, critical for individuals and couples engaged in estate planning,... Read More > -
IRS Reminder: RMD Deadline for Those Aged 73 and Older...
As 2023 approaches, the IRS emphasizes the year-end deadline for required minimum distributions (RMDs) from IRAs and retirement plans. The Secure 2.0 Act raises the RMD age requirement to 73.... Read More > -
IRS Announces Pandemic-Related Penalty Relief for Millions...
The Internal Revenue Service (IRS) has introduced a substantial relief measure in response to COVID-19 challenges. The $1 billion initiative benefits approximately 4.7 million taxpayers who missed... Read More > -
Exemption for Disabled Veterans in New Jersey...
New Jersey's Division of Taxation has reaffirmed its commitment to the exemption for disabled veterans, effective until October 19, 2030. This exemption recognizes the sacrifices of veterans disabled... Read More > -
IRS Delays Form 1099-K Reporting Threshold Change...
The IRS has postponed the Form 1099-K reporting threshold changes originally slated for 2023, following concerns from tax professionals and payment facilitators. The phased-in approach, commencing... Read More > -
New Jersey Offers Tax Credit for Challenging Out-of-State...
New Jersey residents facing tax challenges from other states can now find relief. The state offers a tax credit to those who successfully challenge the 'Convenience of the Employer' rule imposed by... Read More > -
New Jersey Tax Court Retroactively Updates Royalty Addback...
In a significant ruling, the New Jersey Tax Court has applied a 2020 amendment retroactively to the state's royalty addback regulation. This decision carries profound implications for businesses,... Read More >