The Internal Revenue Service (IRS) recently announced inflation adjustments to the annual gift tax exclusion and the federal estate tax exemption. Exemption amounts are set to be halved in 2026 — Here’s what you can do:
On September 7, 2021, the IRS issued Tax Tip 2021-131 providing important information on tax relief and how to get it. Following a disaster, such as Tropical Storm Ida, before the IRS can authorize tax relief, the Federal Emergency Management Agency (“FEMA”) must issue a disaster declaration. Following a disaster declaration, the following are some […]
With many individuals and businesses experiencing various degrees of loss due to the recent hurricane, from minor interruptions to total devastation, the IRS and New Jersey Division of Taxation are providing relief in the form of filing deadlines. For example, the IRS has postponed many filing and payment deadlines until February 1, 2013. More details […]