The Bottom Line
The Bottom Line is where Klatzkin’s advisors provide analysis and insight into key developments in taxation, accounting, and other issues and how they affect businesses and individual taxpayers.

ANCHOR Payments Reversed for Some NJ Taxpayers

By ANGELA A. LAWRENCE

The State of New Jersey’s Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property tax relief program officially opened for 2024 in August.  Payments for eligible homeowners and renters began going out on a rolling basis in mid-October; however, just a short time later, the State pulled the ANCHOR benefit payments from some taxpayers’ accounts, due to possible fraud.

Reforms Coming to New Jersey’s OPRA Law

By CRAIG MORTENSEN

New Jersey’s Open Public Records Act (OPRA) is undergoing transparency and procedural changes due to a new bill signed into law by Governor Murphy. The new law, which became effective on September 3rd, calls for several changes to existing OPRA rules. This includes updates to the attorney’s fee provision, a new requirement on state agencies to include public records on their websites, and allowances for lawsuits to be filed against those making requests for the purpose of disrupting government operations.

Pennsylvania Annual Report Update

By ISHAAN ANAND

Starting on January 1, 2025, most Pennsylvania business owners will be required to file annual reports, a significant change from the decennial reports of the past. Governor Wolf signed Act 122 of 2022 on November 3, 2022, making annual reports a requirement for both domestic and foreign business filing associations. The change is a departure from prior rules which required businesses to file with the state every ten years.

New ERC Correction Program for Third Party Payers

By CHRISTOPHER S. MAYNARD

Over the last few weeks, the IRS has issued several updates about the Employee Retention Credit (ERC). Information had been scarce since the agency announced a claims processing moratorium last year, but that all changed…

Contact Us

  • This field is for validation purposes and should be left unchanged.

By Date

Subscribe to Blog