New Jersey Tax Updates

Gross Income Tax Convenience of the Employer Sourcing Rule Enacted for Gross Income Tax A new law was signed July 21, 2023, that establishes a “convenience of the employer test” (convenience rule) for nonresident income sourcing. Under the convenience rule, a nonresident taxpayer’s employee compensation from a New Jersey employer for the performance of personal …

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Organizations Applying for Tax-Exempt Status

Organizations applying for tax-exempt status must be organized and operated exclusively for any of these purposes: charitable, religious, educational, scientific, literary, testing for public safety, fostering national or international amateur sports competition, or preventing cruelty to children or animals.

Storm Victims in 4 States: File and Pay by July 31

Parts of Arkansas, Indiana, Mississippi and Tennessee affected The Internal Revenue Service reminded individuals and businesses in parts of four states that their 2022 federal income tax returns and tax payments are due on Monday, July 31, 2023. The IRS normally provides relief, including postponing various tax filing and payment deadlines, for any area designated …

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Tips for Extension Filers

Many people requested an extension to file their tax return after the usual April deadline. These filers have until Oct. 16, 2023, to complete and file their tax return. The IRS suggests that those who already have the forms and information they need file now – there’s no advantage to waiting until the deadline and …

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