The Inflation Reduction Act funding passed by Congress in August of 2022 granted additional funding to the IRS. The Service has announced it will apply a portion of those funds to restore fairness in tax compliance, and it plans to do so by using advances in...
WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments....
The Office of the Taxpayer Ombudsman was created by the Internal Revenue Service in 1979 to be the primary advocate for taxpayers with the IRS. This function was replaced in 1996 by the Office of the Taxpayer Advocate. The mission of this division of the IRS is to...
On a recent visit to the website of the Tax Foundation, I was taken aback, but not surprised, to read “New Jersey’s tax system ranks 50th overall on our 2023 State Business Tax Climate Index”. This Index is designed to show how well states structure their tax systems...
The IRS is making it easier for taxpayers who will be making payments on a tax liability over time. Individual taxpayers who have combined liabilities for taxes, penalty, and interest less than $50,000 and businesses owing $25,000 or less for payroll taxes, penalty,...
According to the Tax Foundation, New Jersey’s property tax collections per capita are higher than any other state. Many of our clients, especially seniors, contemplate moving either to escape our cold weather or to escape our notorious property taxes. In an effort to...