News

Proposed Regs Issued on Charitable Contributions and SALT Credits
 

Proposed Regs Issued on Charitable Contributions and SALT Credits

Posted: August 23, 2018
Today the U.S. Department of the Treasury and the IRS issued proposed regulations providing rules on the availability of charitable contribution deductions when the taxpayer receives or expects to receive a corresponding state or local tax credit.




New Jersey Issues Sales Tax Rules for Remote Sellers
 

New Jersey Issues Sales Tax Rules for Remote Sellers

Posted: August 16, 2018
Consistent with South Dakota v. Wayfair, effective Oct. 1, 2018, a remote seller that makes a retail sale of tangible personal property, specified digital products or services for delivery to a location in New Jersey must register, collect and remit New Jersey sales tax if the remote seller meets one of two criteria.


New Jersey Economic and Fiscal Policy Group Issues Recommendations
 

New Jersey Economic and Fiscal Policy Group Issues Recommendations

Posted: August 10, 2018
The Economic and Fiscal Policy Workgroup has released a report with dozens of recommendations to address New Jersey's public worker pension crisis, reduce property taxes, create government and school efficiencies, and improve the state's tax structure.

IRS Issues Proposed Section 199A Regulations
 

IRS Issues Proposed Section 199A Regulations

Posted: August 8, 2018
The IRS has issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income.

NJCPA Task Force Working to Clean Up New Combined Reporting Law
 

NJCPA Task Force Working to Clean Up New Combined Reporting Law

Posted: August 8, 2018
The 2018/19 New Jersey budget includes provisions requiring combined reporting for corporations with subsidiaries in other states.​ The NJCPA Combined Reporting Task Force has submitted to key legislators recommendations to fix the hastily written combined reporting law.

Treasury, IRS Propose Regs on New 100-Percent Depreciation
 

Treasury, IRS Propose Regs on New 100-Percent Depreciation

Posted: August 3, 2018
The Treasury Department and the IRS have issued proposed regulations on the new 100-percent depreciation deduction that allows businesses to write off most depreciable business assets in the year they are placed in service.