The IRS recently held an “Earned Income Tax Credit (EITC) Awareness Day” to remind workers about the tax break. Eligible families with 3 or more qualifying children could get a maximum credit of up...

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New Jersey answers questions about a tax credit that can be claimed by eligible businesses engaged in film and digital media. The NJ Division of Taxation has released a list of answers to frequently...

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The IRS has issued final regulations on the Sec. 199A qualified business income (QBI) deduction. The new deduction allows pass-through businesses, including sole proprietorships, to deduct up to 20% of their QBI. Read full article here.  

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The 2018 CBT-100, BFC-1 and CBT-100S tax forms are now being finalized. Thus, taxpayers filing these forms, with an original due date of 11/15/18, 12/15/18 or 1/15/19 (fiscal tax year filers who had a...

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The IRS confirms that tax season will begin January 28. The tax agency announced that, despite the government shutdown, it will process tax returns beginning 1/28/19 and provide refunds to taxpayers as scheduled. Read full...

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The New Jersey Division of Taxation explained that the marketplace facilitator rules don’t apply to someone who simply sells advertising space and isn’t otherwise involved in the transaction for the tangible personal property or...

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Will you owe federal income tax for 2018? It’s not too late to make an estimated payment and avoid penalties. The 2018 fourth quarter tax payment deadline is Tuesday, 1/15/19. Read full article here.  

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The New Jersey Division of Taxation is providing details about the net operating loss (NOL) conversion worksheet. The NOL subtraction calculation has been changed from a preallocation to postallocation basis for tax years ending...

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New Jersey is reminding taxpayers that a company that takes online orders for restaurant meals, delivers the meals and accepts the payment for the meals is considered the retailer of those meals for sales...

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New Jersey interest rates on underpayments and overpayments increase for 2019. The NJ Division of Taxation has announced that the interest rate assessed on outstanding balances, which is set at 3 percentage points above...

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