News

Final Rules Permit Truncated TINs on W-2s
 

Final Rules Permit Truncated TINs on W-2s

Posted: July 16, 2019
As part of an effort to reduce identity theft, the IRS has issued final rules permitting employers to provide truncated taxpayer identification numbers on Forms W-2 provided to employees. To give employers and others time to adapt, the rules will apply to statements required to be furnished after Dec. 31, 2020.



New Jersey
 

New Jersey's Angel Investor Tax Credit Has Increased

Posted: July 1, 2019
Looking to encourage investment into women and minority owned businesses, a bill to increase the Angel Investor Tax credit percentage by a taxpayer into a New Jersey emerging technology business from 10 to 20 percent of the qualified investment has been signed into law by Governor Phil Murphy.






IRS, Treasury Issue GILTI Regs
 

IRS, Treasury Issue GILTI Regs

Posted: June 17, 2019
The Treasury Department and the IRS have issued final and proposed regulations concerning global intangible low-taxed income under section 951A, the foreign tax credit, the treatment of domestic partnerships for purposes of determining the subpart F income of a partner and the treatment of income of a controlled foreign corporation subject to a high rate of foreign tax under section 951A.