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Cost segregation studies help NJ businesses cut tax bills
New Jersey CPAs say these strategic planning tools can accelerate depreciation, boost cash flow and cut certain costs.
OBBBA tax changes reshape estate, gift planning for 2026
The One Big Beautiful Bill Act has rewritten several key components of tax planning. Here is a summary of what changed, what remains uncertain and the steps worth considering before year-end.
Authorities: Ex-Mars Wrigley manager admits $28M fraud scheme
A federal indictment accused the 58-year-old Connecticut resident of placing the majority of stolen funds in an entity he created to mimic an actual Mars company.
NJ rolls out new tax tool for 2025 filing season
A pilot program for the service successfully launched last year in 12 states. New Jersey did not participate because of a tech upgrade the state’s systems were undergoing at the time.
Proposed IRS funding cuts could mean fewer audits
President-elect Donald Trump has called for yanking significant funds from the agency. So would that mean a “Wild West” for businesses and their tax advisers?
New Jersey joins IRS Direct File tax return program
During the initiative's pilot period, more than 140,000 taxpayers claimed over $90 million in refunds, while also saving an estimated $5.6 billion in filing costs.
How businesses can avoid and survive audits by beefed-up IRS
Firms that engage a good accounting adviser are more likely to either avoid an audit or come out relatively unscathed.
Accountants share last-minute tax tips
In an effort to dull the pain and, possibly, reduce the bite of federal and state taxes, NJBIZ asked some CPAs for last-minute tips.
NJBIZ Conversations: Gina Perrone
The senior tax manager at Sax LLP talks about what's going on with the IRS and the employee retention tax credit.
Jersey tax preparer charged in $124M COVID tax credit fraud
Prosecutors say the Teaneck man filed more than 1,000 false forms claiming pandemic-related employment credits that were offered to help small businesses reduce certain taxes owned to the IRS.
‘Don’t give the IRS a reason to look at you’
One of the many provisions of President Joe Biden’s recently passed Inflation Reduction Act has received a lot of attention: about $80 billion will be allocated to the IRS over a 10-year period, potentially adding 80,000-plus employees to the rolls of everyone’s favorite agency. Will more Internal Revenue Service eyes lead to more tax audits?
