Chapter 7 (liquidation) bankruptcy is generally available if you’re an individual or business debtor, regardless of how much you owe and whether you’re solvent. Some tax debt may be dischargeable. But even if this...

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The IRS recently announced new and expanded features for its Business Tax Account (BTA) platform. The BTA is a self-service platform available to sole proprietors; S corporations; C corporations; certain partners and shareholders; tax-exempt...

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The Qualified Opportunity Zone (QOZ) program provides tax incentives to invest in designated low-income communities across the United States. Tax law changes enacted last year made the program permanent and altered it, with implications...

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Cryptocurrency holders: Be alert for a new IRS impersonation scam. Fraudsters are mailing fake IRS letters directing recipients to a bogus “Digital Asset Compliance Portal.” The letters instruct recipients to scan a QR code...

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New Jersey trucking companies that rely on owner-operators and independent contractors should begin preparing now for new worker classification regulations taking effect on October 1, 2026. While the ABC Test has long been part...

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The IRS has made a midyear increase in the standard mileage rate for business vehicle use, including for cars, SUVs, vans, pickup trucks and panel trucks. These rates apply to gasoline- and diesel-powered vehicles...

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Selling investment or commercial real estate can trigger a hefty tax bill, but an installment sale may help soften the impact. If you’ve owned the property for more than one year, your gain may...

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Thinking about buying a home this summer? Some costs may be deductible while others aren’t. To claim homeownership tax benefits, you must itemize deductions — which will save tax only if your total itemized...

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If you’re covered by a high-deductible health plan (HDHP), you can contribute pretax income to a Health Savings Account (HSA). Funds can be withdrawn tax-free to pay qualified medical expenses. The IRS annually adjusts...

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If you need to speak to an IRS representative by phone, know that you’ll be required to verify your identity. You’ll be asked for your Social Security number, birth date and filing status. Also...

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