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Implementation of New Income Tax Rate for New Jerseyans Earning Over $5 Million
 

Implementation of New Income Tax Rate for New Jerseyans Earning Over $5 Million

Posted: July 25, 2018
Retroactive to Jan. 1, 2018, income of more than $5 million is now taxed at 10.75 percent. Beginning no later than Sept. 1, employers must withhold gross income tax at the rate of 15.6 percent for services rendered in excess of $5 million during the taxable year so that those taxpayers can "catch up" on their withholdings.

Tips for Understanding Critical Audit Matters
 

Tips for Understanding Critical Audit Matters

Posted: July 24, 2018
Critical audit matters will give practitioners an opportunity to provide new, useful information in auditor's reports. A new report explains what audit committees and financial-statement users must know about critical audit matters.

GAO Updates Yellow Book Standards
 

GAO Updates Yellow Book Standards

Posted: July 18, 2018
Key changes include updated independence requirements, revised peer review requirements, new guidance to address waste and abuse, and more.