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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December 31 is the deadline for completing many important tax-related actions. For example: foreign and other taxpayers using Individual Taxpayer Identification Numbers (ITINs) to file and pay taxes may need to renew their ITINs;...

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The New Jersey Dept. of Labor and Workforce Development has announced the 2019 meal and lodging limitations. Payments in kind for personal services, in lieu of, or in addition to, monetary wages, are taxable...

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The IRS and others have worked to strengthen their security systems, and are urging the public to help. “To make these defenses stronger, we need taxpayers and tax professionals to take common-sense steps to...

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The NJ Division of Taxation has announced that a tax amnesty will be conducted from 11/15/18 to 1/15/19. Not only will there be no penalties, but there will be reduced interest on certain back...

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The Tax Reform legislation has business owners considering whether their current business structure is most advantageous with the new regulations. C corporations are now tax at a flat 21% federal income tax rate which...

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With the next tax season rolling up fast, the IRS is reminding taxpayers of a few points. It’s important to keep copies of previous-year returns for at least 3 years, or 7 years if...

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Now that Donald Trump is our president-elect, major changes in tax law are expected. Although the exact details are months away, here are a few highlights of the Trump administration’s tax proposals for individuals...

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