Get Ahead on Your 1099 Reporting Requirements

Get Ahead on Your 1099 Reporting Requirements

As the year draws to a close, it’s the perfect time for business owners to prepare for the upcoming Form 1099 filing season. The deadline for filing Forms 1099-NEC and 1099-MISC with the IRS and sending copies to payees is January 31, 2026. Businesses should presently...

Advance Child Tax Credit

In a recently published FAQ, the IRS stated that Advance Child Tax Credit payments cannot be counted as income when determining if the recipient taxpayer or anyone else is eligible for benefits or assistance, or how much the taxpayer or anyone else can receive, under...

Changes Coming to IRS W-4

In an effort to more accurately withhold employee wages in accordance with the 2017 Tax Cuts and Jobs Act (TCJA), the Internal Revenue Service (IRS) announced plans in September 2018 to implement a new version of Form W-4, Employee’s Withholding Allowance Certificate,...

New Tax Law for NJ Homeowners Renting Through Airbnb

As part of the major tax law changes enacted in July 2018, a new state law requires that New Jersey’s 6.625% sales tax, 5% hotel occupancy fee, and 3% Meadowlands Regional Hotel Use Assessment (where applicable) be paid on “transient accommodations” (i.e., rooms or...

The New Jersey Tax Amnesty Program

The New Jersey tax amnesty program went into effect on November 15, 2018 and will last until January 15, 2019.  During that short period, taxpayers may pay certain outstanding New Jersey state tax obligations (including individual gross income tax, corporation...