News & Insights
NJEDA $10 Million Small Business Lease Grant Program Opened Oct. 20
The New Jersey Economic Development Authority is now accepting applications on a rolling basis from eligible businesses and nonprofits seeking state grants to offset up to 20% of the annual cost of leases…
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Give Tax Withholding a Fresh New Look
The Internal Revenue Service reminds taxpayers that the last quarter of 2021 is a good time to check withholding. Life brings constant changes to individual financial situations. Events like marriage,…
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Philly Still Refunding 2020 Wage Taxes for Commuters
Philadelphia has already paid back more than $81 million in wage taxes to suburban residents who worked from home last year instead of commuting to the city — and officials are still processing refund…
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IRS Grants Tax Relief to PA Victims of Hurricane Ida
Victims of Hurricane Ida in parts of Pennsylvania now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments. The IRS has also provided relief to Ida victims…
Continue ReadingNJ to Offer $500 Return to Work Bonuses
New Jersey will offer $500 return-to-work bonuses for unemployed residents in their first paycheck after hiring under the new Return & Earn Program. Employers may receive up to $10,000 in wage subsidies…
Continue ReadingIRS Updates Car and Truck Depreciation Limits
The IRS issued its annual inflation-adjusted update of depreciation limitations for passenger automobiles (including passenger vans and trucks) placed in service in 2021 (Rev. Proc. 2021-31). The revenue…
Continue ReadingFor National Preparedness Month, IRS Urges Taxpayers to Prep for Natural Disasters
September is National Preparedness Month. With the height of hurricane season fast approaching and the ongoing threat of wildfires in some parts of the country, the Internal Revenue Service reminds everyone…
Continue ReadingGross Receipts Safe Harbor Issued for Employers Claiming the Employee Retention Credit
On August 10th, the Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued a safe harbor allowing employers to exclude certain items from their gross receipts solely for determining…
Continue ReadingTax Refund Delayed? You’re Not Alone
IRS tax refunds are late for millions of Americans. The National Taxpayer Advocate’s annual report released on June 29 showed that 35 million tax returns were still being held for manual reviews. The…
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Employer Tax Credit for Covid Vaccine PTO Expanded
The IRS updated frequently asked questions (FAQs) on the paid sick and family leave tax credits under the American Rescue Plan Act of 2021 (ARP). The updates clarify that eligible employers can claim the…
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