IRS Issues 2018 Version of Publication 969 on HSAs, HRAs, Health FSAs, and MSAs The IRS has substantially revised Publication 521 (Moving Expenses) to reflect limitations on the moving expense deduction and the exclusion for moving expense reimbursements imposed by the Tax Cuts and Jobs Act.
Limited Moving Expense Deduction Read More »
In November 2018, the IRS announced an increase in the dollar threshold for determining who is a highly compensated employee which will affect 401(k) plan’s nondiscrimination testing.
Highly Compensated Employees Read More »
Refunds of $1.4 billion waiting to be claimed by individuals who have not filed federal income tax returns for 2015 Unclaimed income tax refunds totaling almost $1.4 billion may be waiting for an estimated 1.2 million taxpayers who did not file a 2015 Form 1040 federal income tax return, according to the Internal Revenue Service.
$1.4 Billion Waiting for Individuals Who Have Not Filed Read More »
The Internal Revenue Service encourages taxpayers to be alert to scam groups masquerading as charitable organizations.
Beware of Fake Charities Read More »
The Internal Revenue Service urges taxpayers to protect the security of their personal, financial and tax information. Con artists use scams and schemes to steal personal information and money from unsuspecting victims, particularly during tax time.
Protect Personal, Financial and Tax Information Read More »
What are Opportunity Zones? Opportunity Zones were enacted as part of the 2017 federal Tax Cuts and Jobs Act and are designed to drive long-term capital investments into low-income rural and urban communities. This federal capital gains tax incentive encourages private investors to support investments in designated low-income distressed communities (Opportunity Zone census tracts) through
New Jersey Opportunity Zones Read More »
Incentives to be Capped and Targeted Toward High-Growth Industries
Murphy Announces Vision for State’s Tax Incentive Programs Read More »
The average refund amount at the beginning of the 2019 tax filing season was smaller than this time period last year, a new IRS report shows. However, most taxpayers are seeing tax reform’s benefits in larger paychecks rather than refunds, a Treasury spokesperson said on February 15.
Larger Paychecks, Not Refunds, Treasury Spokesperson Says Read More »
Opportunity Zones Opportunity Zones are an economic development tool to spur tax-favored investments in distressed communities throughout the country and in U.S. territories.
Business Tax Miscellaneous Provisions Read More »
Generally, if a taxpayer exchanges business or investment property solely for business or investment property of a like or similar kind, they don’t need to recognize a gain or loss.
Like-Kind Exchanges of Real Property Read More »