In moving to automate the ability to electronically file more types of income taxes, the IRS has recently announced that corrections or amendments to Form 1040-NR, U.S. Nonresident Alien Income Tax Return and Forms 1040-SS, U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico) and Forms 1040-PR, […]
Yes, we certainly live in a world of acronyms – a recent one being ANCHOR. So, what does it mean? If you are a New Jersey resident, the Affordable New Jersey Communities for Homeowners and Renters a/k/a ANCHOR replaces the Homestead Rebate. This program is different in that there is no age restrictions and can […]
There are special considerations for people who are in this unfortunate situation. Not only is their relationship changed, but the tax status is affected as well. Important things to consider or do: Update your withholding with your employer by filing a new Form W-4. If you are receiving or negotiating spousal support (alimony or other […]
The IRS provided an update last week on the status of the processing of income tax returns as follows: All paper and electronic individual returns received prior to January, 2022 that were free of errors and did not require further review have now been processed. Of the 8.7 million unprocessed individual returns filed in 2022, […]
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