Kulzer & DiPadova, P.A.
76 E. Euclid Avenue, Suite 300
Haddonfield, New Jersey 08033-2342

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News, Articles & Resources

Category: State & Local Taxes

New Jersey ITIN Holders Director Assistance Excludable from Federal Taxable Income

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New Jersey ITIN Holders Director Assistance Excludable from Federal Taxable Income The IRS ruled that a payment made under New Jersey’s ITIN Holders Director Assistance Program was excludible from federal taxable income as a payment is made for the promotion of the general welfare or as a disaster relief payment….

New Jersey Adapts to Federal Centralized Partnership Audit Rules

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New Jersey Adapts to Federal Centralized Partnership Audit Rules On December 22, 2022, Governor Murphy signed P.L.2022, c.133 (A4295/S2876) that eliminates the requirement to affirmatively make a New Jersey S corporation election; ends the New Jersey COVID-related extension for State tax assessments and refund interest and adapts New Jersey Partnership…

New Jersey Ends COVID-related Extension for State Tax Assessments

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New Jersey Ends COVID-related Extension for State Tax Assessments On December 22, 2022, Governor Murphy signed P.L.2022, c.133 (A4295/S2876) that eliminates the requirement to affirmatively make a New Jersey S corporation election; ends the New Jersey COVID-related extensions for State tax assessments and refund interest and adapts New Jersey Partnership…

New Jersey Piggy-Backs Federal S Corporation Elections

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New Jersey Piggy-Backs Federal S Corporation Elections. On December 22, 2022, Governor Murphy signed P.L.2022, c.133 (A4295/S2876) that eliminates the requirement to affirmatively make a New Jersey S corporation election; ends the New Jersey COVID-related extension for State tax assessments and refund interest and adapts New Jersey Partnership Audit Rules…

K&D Upcoming Tax Seminars

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Kulzer & DiPadova, P.A. is once again presenting a number of annual tax seminars reviewing the major changes and legislative trends in taxation throughout 2022.  Join us virtually or in person to explore the latest in federal and state legislation, estate tax developments, international taxation requirements, and more! NJCPA 2022…

Tax Update

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New Jersey Enacts Bill to Curb the Use of “Refund Anticipation Checks” by Tax Return Preparers Governor Murphy signed into law P.L.2022, c.90 (S891) that prohibits specified tax preparers from engaging in certain practices involving refund anticipation checks and loans.  An income tax refund is the largest lump-sum payment that…

New Jersey Deductions for Higher Education Expenses and Savings

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Beginning in 2022, the New Jersey College Affordability Act allows New Jersey taxpayers tax deductions for certain educational expenses. The deductions are targeted for taxpayers with gross income of $200,000 or less. Deductions are allowed for contributions to the NJBEST college savings plan, in-state higher education tuition costs and NJCLASS…

New Jersey Property Tax Assessment Appeals

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Many New Jersey property owners believe their property tax assessments are uncompromising. The truth is property assessments are not. Property assessments hinge on the tax assessor’s calculation of the market value of a property, and often such calculations may not be accurate or reflective of current market value. Tax assessors…

New Jersey Revises Rules For Notary Publics

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On July 22, 2021, Governor Phil Murphy signed P.L. 2021, ch. 179, A-4250 (Downey)/S-2508(Gopal)  upgrading the laws concerning notaries and notarial acts.  What is “notarization”?  When an individual executes a legal document, a licensed notary public serves as an impartial witness to the execution of the document and to the…

New Jersey Extends Retirement Income Exclusion

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The State of New Jersey, recently reduced many retirees’ income taxes by extending a limited pension and retirement income exclusion to taxpayers with gross income exceeding $100,000 but not more than $150,000. New Jersey does not tax Social Security benefits or military pensions.  Since 2000, New Jersey has provided taxpayers…

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