Tax Updates

The Tax Cuts and Jobs Act (“TCJA”) established the Qualified Opportunity Zone (“QOZ”) program to encourage investment in economically distressed and low-income communities across the United States, District of Columbia…

New Jersey Governor Phil Murphy signed S1567 into law, requiring employers of 20 or more employees to offer a pre-tax transportation fringe benefit to their employees, covering commuter highway vehicle…

The U.S. Supreme Court’s recent South Dakota v. Wayfair decision holding that internet retailers who sell into a state without having a physical presence could be subject to sales tax…

As the calendar year is coming to a close and President Trump’s Tax Cuts and Jobs Act (TCJA) inches closer to its first year of implementation related to alimony, many…

While 2018 brought no significant changes to 1099 filing requirements, it is important that employers review and understand the existing compliance procedures.  Not only will you face steep penalties for…

The New Jersey Division of Taxation has just announced the 2018 Tax Amnesty Program to encourage eligible taxpayers with outstanding taxes to file and pay what is past due with…

On August 23, 2018, the IRS issued proposed regulations which provide new guidance on the amount of charitable contribution deductions a taxpayer would get if they receive or expect to…

The U.S. Supreme Court ruled in South Dakota v. Wayfair that internet retailers who sell into South Dakota (even if they have no property or employees in South Dakota), will be subject to…

Connecticut Governor Dannel Malloy, signed on May 31, 2018 Senate Bill 11, a bill that is in response to the federal tax reform.  This bill includes a new pass-through entity…

The recently enacted New York State 2018-2019 budget has brought about much change, including the application of sales and use tax on the restaurant, catering and hospitality industry.  New York…