By KLATZKIN TAX TEAM
The State of New Jersey’s Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property tax relief program will officially open for 2024 in August. Beginning August 19, the state’s Treasury Department will start sending notification letters to 1.5 million New Jersey taxpayers…
IRS compliance teams are stepping up work on analyzing and processing Employee Retention Credit (ERC) claims and have issued five new warning signs of incorrect claims that are being commonly seen. These five new problem areas are in addition to the seven warning signs previously released.
In May 2024, the IRS announced that interest rates will remain the same for the third quarter of 2024, which begins July 1, 2024. The rates remain unchanged from the first and second quarters of 2024 and the fourth quarter of 2023
In February, the IRS released a list of seven suspicious signs that a company’s Employee Retention Credit (ERC) claim may be questionable or incorrect, which could cause future problems with the IRS. Small businesses should carefully review these warning signs to determine if their claims must be resolved. The ERC, a pandemic-era credit, was meant to help small businesses, but corrupt promotors have deceived many businesses and misled them about the qualifications needed to claim the credit.
Each year, the IRS releases its “Dirty Dozen,” a list of tax scams that taxpayers should be wary of. The list highlights common scams that put people at risk of losing money, personal information, data, and more. Here are the 12 scams that you should be aware of in 2024…
By ISHAAN ANAND
In February, the IRS released a list of seven suspicious signs that a company’s Employee Retention Credit (ERC) claim may be questionable or incorrect, which could cause future problems with the IRS. Small businesses should carefully review these warning signs to determine if their claims must be resolved. The ERC, a pandemic-era credit, was meant to help small businesses, but corrupt promotors have deceived many businesses and misled them about the qualifications needed to claim the credit.
By KLATZKIN TAX TEAM
In February 2024, the IRS announced that interest rates will remain the same for the second quarter of 2024, which begins April 1, 2024. The rates remain unchanged from the first quarter of 2024 and the fourth quarter of 2023…
In 2021, Congress passed the Corporate Transparency Act intending to fight and prevent money laundering, illegal financing activities, corruption, and tax fraud.
In mid-December, the IRS announced the new optional standard mileage starts that will be in effect starting January 1, 2024. The rates are used to calculate the deductible costs of operating a vehicle for business, charitable, medical, or moving purposes.
By ISHAAN ANAND, CPA
In mid-December, the IRS announced the new optional standard mileage starts that will be in effect starting January 1, 2024. The rates are used to calculate the deductible costs of operating a vehicle for business, charitable, medical, or moving purposes.
