Personal Finance

The SECURE 2.0 Act offers incentives for employers, especially small to mid-size employers without a current retirement plan in place, to establish and maintain retirement plans. From expanding coverage…

The Federal Earned Income Tax Credit (EITC) The City of Philadelphia wants every qualifying Philadelphian to receive the federal Earned Income Tax Credit (EITC). This federal credit is for low-to-moderate-income…

The IRS announced the 2023 inflation-adjusted dollar-amount ceilings and thresholds for a wide range of qualified retirement plans and accounts, including traditional individual retirement arrangements…

Earlier this month, the Internal Revenue Service (IRS) released a memorandum (CCA 202302012) concluding that a qualified appraisal is required when a taxpayer claims a charitable contribution deduction…

Delays by the IRS and State Revenue Departments in processing checks from taxpayers for the payment of income taxes is increasing.  Delays in the processing of checks can cause automated tax notices requesting…

The IRS has extended tax relief to the victims of Hurricane Ian throughout Florida until February 15, 2023, to file various individual and business tax returns and make tax payments. Individuals and households…

ANCHOR provides property tax relief to New Jersey residents who owned or rented their principal residence (main home) on October 1, 2019, and met the income limits. The filing deadline for the ANCHOR Application…

On Aug. 24, 2022, the Biden-Harris Administration announced a Student Debt Relief Plan that includes one-time student loan debt relief targeted to low- and middle-income families. The plan will cancel…

The Treasury Inspector General for Tax Administration is raising the alarm about identity thieves and fraudsters, releasing a pair of public service announcements to educate taxpayers about the continuing…

Beginning in 2022, the New Jersey College Affordability Act allows New Jersey taxpayers tax deductions for certain educational expenses. The deductions are targeted for taxpayers with gross income of $200…