Do you have a foreign bank account? If so, you’ve probably received correspondence from your bank advising you that they will be providing your financial information to the IRS. When foreign governments sign the Foreign Account Tax Compliance Act (FATCA) agreements with the United States, these notices always follow to U.S. bank account holders. The […]
New Jersey State Tax
Tax Preparer Misconduct: What to Do
Few people have the time, experience, or inclination to navigate the often-complicated federal and state tax forms. Instead, they rely on professional tax preparer misconduct to complete and submit their personal and business returns. Unfortunately, there are tax preparers who abuse the trust placed in them. They attempt to secure a higher refund for you […]
What Does a WR-30 Look Like & How Do I Do It?
In New Jersey, employers are required to file an Employer Report of Wages Paid, or WR-30, form within 30 days of the end of each quarter ( March 31, June 30, September 30 and December 31). This report, which lists all people who were employed and/or paid by your company during the specified time period, […]
What is the ABC Test in New Jersey?
There are several reasons why a New Jersey business might want to classify its workforce as independent contractors. Unlike employees, contractors are not entitled to health insurance, unemployment coverage, paid vacations, family leave, and other benefits that cost the company a significant amount of money. In addition, an employer can write off independent contractor fees […]