NJ Tax Services - Income Tax Preparation

01/27/2025

01/15/2025

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NJ Tax Services Linden NJ, linden NJ Income Tax Preparation Services, Rozliczenia Podatkowe Linden NJ

01/15/2025

The IRS has officially announced the beginning of the 2025 tax filing season: The agency will begin accepting 2024 federal tax returns on Monday, Jan. 27, 2025.

NJ Tax Services

5.0 ★ · Tax preparation

01/17/2023

IRS sets January 23 as official start to 2023 tax filing season.

01/10/2022

The Internal Revenue Service announced that the nation's tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.

12/17/2021

Economic impact payments and claiming the recovery rebate credit

Individuals who didn't qualify for the third economic impact payment or did not receive the full amount may be eligible for the recovery rebate credit based on their 2021 tax information. They'll need to file a 2021 tax return, even if they don't usually file, to claim the credit.

Individuals will need the amount of their third economic impact payment and any plus-up payments received to calculate their correct 2021 recovery rebate credit amount when they file their tax return.

12/17/2021

Check on advance child tax credit payments

Families who received advance payments will need to compare the advance child tax credit payments that they received in 2021 with the amount of the child tax credit that they can properly claim on their 2021 tax return.

Taxpayers who received less than the amount for which they're eligible will claim a credit for the remaining amount of child tax credit on their 2021 tax return.

Eligible families who did not get monthly advance payments in 2021 can still get a lump-sum payment by claiming the child tax credit when they file a 2021 federal income tax return next year. This includes families who don't normally need to file a return.
In January 2022, the IRS will send Letter 6419 with the total amount of advance child tax credit payments taxpayers received in 2021. People should keep this and any other IRS letters about advance child tax credit payments with their tax records.

12/17/2021

Changes to the charitable contribution deduction

Taxpayers who don't itemize deductions may qualify to take a deduction of up to $600 for married taxpayers filing joint returns and up to $300 for all other filers for cash contributions made in 2021 to qualifying organizations.

09/23/2021

Taxpayers have the right to appeal an IRS decision in an independent forum. This is one of ten basic rights — known collectively as the Taxpayer Bill of Rights — that all taxpayers have when dealing with the IRS.

The IRS Independent Office of Appeals handles a taxpayer’s case must be separate from the IRS office that initially reviewed that case. Generally, this office will not discuss a case with the IRS to the extent that those communications appear to compromise the independence of Appeals.

Here are some points to remember about the right to appeal a decision in an independent forum:

• A statutory notice of deficiency is an IRS letter proposing additional tax. Taxpayers who receive this notice and who then timely file a petition with the United States Tax Court may dispute the proposed adjustment before they must pay the tax.

• Taxpayers are entitled to a fair and impartial administrative appeal of most IRS decisions, including many penalties.

• Taxpayers have the right to receive a written response regarding a decision from the IRS Office of Appeals.

• When taxpayers don’t agree with the IRS’s decisions, they can refer to Publication 5, Your Appeal Rights and How To Prepare a Protest If You Don’t Agree, for details on how to appeal.

• Generally, taxpayers may file a refund suit in a United States district court or the United States Court of Federal Claims if:

o They have fully paid the tax and the IRS has denied their tax refund claim.
o No action is taken on the refund claim within six months.
o It’s been less than two years since the IRS mailed them a notice denying the refund

09/17/2021

Expanded tax benefits help individuals and businesses give to charity during 2021; deductions up to $600 available for cash donations by non-itemizers

Deduction for individuals who don’t itemize; cash donations up to $600 qualify

Ordinarily, individuals who elect to take the standard deduction cannot claim a deduction for their charitable contributions. The law now permits these individuals to claim a limited deduction on their 2021 federal income tax returns for cash contributions made to certain qualifying charitable organizations. Nearly nine in 10 taxpayers now take the standard deduction and could potentially qualify to claim a limited deduction for cash contributions.

09/11/2021

The IRS has been sending out letters requesting additional documentation to millions of Americans who filed taxes normally during the spring. For a variety of reasons – including the stimulus payments sent out to Americans – the IRS has been historically behind. In fact, upwards of 35 million individuals and 8 million business tax returns all are in a state of flux.

When the IRS sends a letter to a taxpayer saying they need supporting documentation – it’s called a correspondence audit. Essentially, a low level audit that requires an easy fix or a couple pieces of validating information to finish the process.

Whether it’s a questionable refund, or unique situation – these low level audits are entirely normal. Here’s a bigger problem though: More than 94,000 of these audits remain unresolved from 2019, which means that there’s a good chance that 100,000 – or several hundred thousand filers may never see a resolution to these audits.