Accounting Today

JULY 24, 2025

West Long Branch, New Jersey: Resident Matthew Tucci has pleaded guilty to tax evasion. For 2015 and 2016, he filed tax returns that stated he owed more than $2 million in taxes for both years but did not fully pay the taxes. On these returns, Edwards admitted that he owed more than $2.5

Tax

Accounting Today

JUNE 9, 2025

Dan Hood (17:53): We tend to be focusing on New York. We know New York, but, Neil Fishman (17:57): But the big thing was Dan Hood (17:58): New Jersey, Illinois, California all have Neil Fishman (18:01): Similar places. So it is safe to say that 70% of the people who prepare tax returns are not credentialed.

Washington

Accounting Today

JULY 21, 2025

IRS records analysis confirmed that the defendant did not file income tax returns for 2015 and 2016, but he eventually prepared and filed those documents two years later, in April 2018. income tax return. income tax returns and falsely reported that the $150,000 payment was for legal fees.

Rhode Island

Withum

JULY 23, 2025

This expansion is particularly relevant to pass-through entities in high tax jurisdictions such as New York and New Jersey. million per married couple) estate, gift and generation-skipping transfer tax (“GST”) exemption was scheduled to sunset and revert to $7 million per person. million per individual ($27.98

Construction

CPA Practice

MAY 10, 2023

New Jersey Governor Phil Murphy has signed a bill into law that makes it possible for New Jersey cannabis businesses to deduct some expenses on state tax returns by decoupling them from federal rules. By Jelani Gibson, nj.com – (via TNS). The measure was sponsored by state Sens.

New Jersey

CPA Practice

JULY 26, 2024

By Karin Price Mueller, nj.com (TNS) New Jersey residents will have a new way to file their federal tax returns when it’s time to file for 2024, the IRS and state officials said Wednesday. The program will now be a permanent option for taxpayers in states that choose to participate, and New Jersey said it’s in.

New Jersey

TaxConnex

OCTOBER 19, 2022

In most cases, the higher the volume of tax to be reported, the more often you are required to file and pay. Some states (for example, New Jersey) have a flat sales tax rate that applies throughout the state. Other states (for example California) have local taxes that are reported on the state return.

Sales

Going Concern

AUGUST 14, 2024

We have no way of knowing if Heier Weisbrot & Bernstein, LLC has a tax return backlog. Yet another accounting firm has reported a data breach, this time Heier Weisbrot & Bernstein of Gibbsboro, New Jersey and the details are a bit scarier than just bad actors caught digging around in the firm’s files.

tax return

TaxConnex

JULY 9, 2024

Yet often we see differences between a client’s billing system and their tax reporting. You could be billing taxes within your billing system and yet haven’t filed a single sales tax return and haven’t tracked the tax data to be aware of a future filing obligation. Tax types and nexus pose other wrinkles.

Sales

Withum

SEPTEMBER 9, 2022

If your company has operations in New Jersey and other states but does not necessarily have complete or clear tax reporting in New Jersey (and you are dreading it), a new initiative may represent a significant opportunity. To enter the program, taxpayers must agree in writing by Sept. Contact Us.

New Jersey

Going Concern

APRIL 5, 2024

A federal grand jury in Newark, New Jersey, returned an indictment Wednesday charging tax preparer Leon Haynes of Teaneck, New Jersey with fraudulently seeking more than $150 million from the IRS by filing more than 1,600 false tax returns for himself and his clients that claimed COVID-19-related employment tax credits.

tax preparation

TaxConnex

DECEMBER 23, 2021

The Sales Tax Institute reports that Maine, Illinois, California, Massachusetts, Wisconsin and Washington have been the most aggressive states in sending notices and audit requests. Industry observers look for New York, Ohio and New Jersey to soon intensify enforcement. Get to work on this first and fast.

audit

TaxConnex

MARCH 2, 2021

Estimates reportedly said the tax will generate up to $250 million but opponents promise legal challenges. Maryland has also extended time free of interest and penalties to file sales and use tax returns due between Jan. This affects returns for sales taking place from December through this month.

Sales

CPA Practice

FEBRUARY 11, 2023

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns. Other payments Other payments that may have been made by states are generally includable in income for federal income tax purposes.

Rhode Island

TaxConnex

JUNE 1, 2023

Process varies by state Cancelling can be as straightforward as writing “Final” on your sales tax return. Ask New Jersey: You must notify the State that your business or organization is no longer operating in New Jersey,” the state warns. “If And do you always want to do it? Suppose you just stop filing?

Sales

CPA Practice

JANUARY 11, 2024

Consisting of more than 65 people, Baratz & Associates has developed a well-established reputation for providing accounting, auditing, business acquisition, health care consulting, litigation support, tax planning, and valuation services to clients. Established in 1992, Renzi Bernardi Suarez & Co.

New Jersey

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. Need to file a 2019 tax return?

Rhode Island

CPA Practice

AUGUST 19, 2024

By Matthew Enuco nj.com (TNS) A Drexel University accounting professor was convicted on all eight counts of tax evasion and filing false tax returns Thursday, U.S. million in income taxes on about $3.28 District Attorney Philip R. Sellinger announced Friday. million in income. ©2024 Advance Local Media LLC.

Tax

Katz,Sapper&Miller

DECEMBER 21, 2018

New Jersey is currently running an amnesty program that allows taxpayers an opportunity to become compliant with certain state tax liabilities and unfiled tax returns.

New Jersey

CPA Practice

OCTOBER 4, 2024

During the pilot last year, Direct File was available in Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington State and Wyoming. It guides taxpayers through a series of questions to prepare their federal tax return step-by-step.

Alaska

CPA Practice

AUGUST 21, 2023

They are taxed on their income but can’t write off most of their business expenses. Section 280E of the federal tax code bars marijuana firms from claiming business expenses on their federal tax return other than for their cost of goods sold. Look for more states to follow suit. _

income tax

MyIRSRelief

MARCH 1, 2025

Whether its unfiled tax returns, overwhelming back taxes, an audit, payroll issues, or aggressive IRS actions like levies, you dont have to navigate this stressful situation alone. Our tax representation firm is here to provide you with expert assistance, reliable solutions, and the peace of mind you deserve.

Tax

CPA Practice

AUGUST 11, 2023

From the Kiplinger Consumer News Service (via TNS). Employee retention credits have been in the news lately. The Department of Justice recently arrested a New Jersey tax preparer for allegedly seeking more than $124 million from the IRS. million in tax refunds to Haynes’ clients based on false tax form filings.

New Jersey

TaxConnex

JANUARY 26, 2023

“The trend of purchases from brick and mortar to internet actually spreads the [sales] tax revenue more evenly to jurisdictions where the purchaser lives.” 10-finger discount.

Sales

Withum

SEPTEMBER 6, 2024

In contrast to an ING Trust, assets transferred to a NY Exempt Resident Trust are treated as completed gifts, utilizing the individual’s lifetime estate and gift tax exemption. These trusts must file a NY fiduciary income tax return with Form IT-205-C to certify their exempt status.

New Jersey

MyIRSRelief

JUNE 9, 2020

Delinquent return filings: IRS will not default an OIC for those taxpayers who are delinquent in filing their tax return for tax year 2018. IRS has provided new guidance on OICs, in the form of FAQs. What about taxpayers trying to apply for an OIC?

tax return

CPA Practice

APRIL 9, 2024

Compliance and Reporting Ensuring compliance with payroll tax regulations involves timely and accurate reporting to various tax authorities. As an accountant or CPA, you play a vital role in: Calculating and withholding taxes correctly. Filing tax returns and remitting payments on time.

payroll tax

Anders CPA

MAY 23, 2023

State Payroll Reciprocity Agreements It’s possible for remote or out-of-state workers to be taxed twice, but this double taxation can be resolved by the taxpayer when preparing their state tax returns. The taxpayer would then be refunded for taxes withheld unnecessarily from their paycheck.

payroll tax

ThomsonReuters

JULY 13, 2021

Generally, the payer does not withhold taxes from these types of payments, as it is assumed that the payee will report and pay taxes on this income when the federal income tax return is filed. Form 1099-NEC took effect for the 2020 tax year. The draft forms include information related to the COVID-19 tax credits.

payroll

ThomsonReuters

FEBRUARY 1, 2021

The FUTA tax rate is currently 6.0% FUTA tax credit reduction when they file their Form 940 (Employer’s Annual Federal Unemployment (FUTA) Tax Return), resulting in a net FUTA tax rate of 0.6%.FUTA on the first $7,000 in wages per employee each year. However, employers generally receive a 5.4%

Hawaii

Shay CPA

DECEMBER 7, 2022

New Jersey. New York (and New York City, in particular). Don’t assume you’re off the hook until you have written confirmation from the appropriate authorities that your tax accounts are shut. . Copies of all tax returns and accounting records for the R&D credit year. Washington.

tax accountant

CPA Practice

APRIL 14, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island

CPA Practice

APRIL 13, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island

CPA Practice

MAY 17, 2023

Most states tax personal property owned by businesses and require businesses to complete and file a personal property rendition every year. The exceptions to that rule are Delaware, Hawaii, Illinois, Iowa, Minnesota, New Hampshire, New Jersey, New York, North Dakota, Ohio, Pennsylvania, and South Dakota.

South Dakota

CPA Practice

SEPTEMBER 12, 2024

Allison graduated from Rowan University in New Jersey with a Bachelor’s degree in Accounting. Becca Martin specializes in partnership taxation and supports clients in tax planning, tax consulting and tax return preparation. She specializes in accounting and audits of insurance companies. She works remotely.

Kansas

PYMNTS

MAY 6, 2020

This is resulting in increased revenue for these online gambling platforms in states like New Jersey — trends in growth that may well continue after the crisis. There is one sticking point online casinos need to fix, however, and that is the speed at which consumers receive their winnings.

Gambling

CPA Practice

AUGUST 13, 2024

Oregon, New Jersey and Pennsylvania were the first to accept, with New Mexico following suit at the beginning of this month. According to a news release from the Treasury Department, the pilot program “saw 140,000 taxpayers claim more than $90 million in refunds and save an estimated $5.6 Martin Heinrich and U.S.

New Mexico