Division of Taxation Acknowledges Tax Amnesty Calculation Error Posted: February 22, 2019 Several NJCPA members noticed a potential error in the calculation of interest in penalities for some taxpayers participating New Jersey' recent tax amnesty program. The New Jersey Division of Taxation has issued a memo acknowledging the situation.
NJ's Paid Family Leave Law Is Expanding Posted: February 19, 2019 Governor Murphy has signed a bill expanding New Jersey's paid family leave program. Here's what you need to know.
Get Your Tax Questions Answered Posted: February 19, 2019 In conjunction with NJTV, News 12 and the Asbury Park Press, the NJCPA is offering several opportunities for New Jerseyans to get their pressing tax questions answered.
FASB Proposes Improvements to Recognizing and Measuring Deferred Revenue in Business Combinations Posted: February 15, 2019 Stakeholders observed that diversity exists on whether and how to record deferred revenue in a business combination. The Emerging Issues Task Force worked with the FASB to develop a proposed standard and an Invitation to Comment to solicit feedback on these issues.
Going Broke Remains Top Concern in Retirement: Survey of CPA Financial Planners Posted: February 14, 2019 Of all the concerns impacting Americans’ retirement today, running out of money, maintaining their lifestyle and rising healthcare expenses continue to top the list.
Legislation Announced to Repeal SALT Deduction Cap Posted: February 11, 2019 Senator Bob Menendez and Congressman Bill Pascrell, Jr., have unveiled a bipartisan bill to repeal the federal cap on state and local tax (SALT) deductions imposed by the Tax Cuts and Jobs Act.
Democrats Introduce Bills to Legalize and Tax Marijuana at Federal Level Posted: February 11, 2019 A senator and a representative from Oregon aim to bring state and national cannabis laws into greater alignment.
Apply for an AICPA Accounting Scholarship Posted: February 8, 2019 The American Institute of CPAs announced that more than $650,000 in scholarships for accounting students is available for the 2019/20 academic year. The application deadline is March 1.
IRS Expands Identity Protection Pin Program Posted: February 7, 2019 The IRS has expanded eligibility for its Identity Protection Pin (IP PIN) test program to taxpayers in the top 10 locations where identity thefts are reported to the Federal Trade Commission.
Governor Murphy Signs Bill Raising Minimum Wage to $15 Posted: February 4, 2019 Governor Phil Murphy today signed legislation that will raise New Jersey's minimum wage to $15 per hour by 2024. Under the new law, the base minimum wage for New Jersey workers will increase to $10 per hour on July 1, 2019, and then will increase by $1 per hour every Jan. 1 until it reaches $15 per hour on Jan. 1, 2024.