Business & Finance

April 20, 2021

TRENTON, NJ — New Jersey has opened preregistration to distribute another $85 million in coronavirus-related aid to a targeted group of small and medium-sized businesses. The New Jersey Economic Development Authority’s Small Business Emergency Assistance Grant Program — now in its fourth phase — ...

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TRENTON, NJ — Micro-businesses with up to five employees will benefit from legislation signed by Gov. Phil Murphy that provides $25 million in federal COVID-19 relief aid. The bill, S-3523, is part of a five-bill, $100 million relief effort aimed at helping the state’s economy recover from the ...

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NEW JERSEY — New Jersey was ranked seventh among all states with an overall tax burden of 9.98%, according to a new report by WalletHub. What accounts for New Jersey's top 10 ranking? Property taxes. "New Jersey has the third highest property tax. Plus, the state's individual income tax ...

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Lawmakers agreed to bills they say will help jobless workers, boost aid to struggling businesses, nonprofits.  Special to TAPinto. This story was written and produced by NJ Spotlight. It is being republished under a special NJ News Commons content-sharing agreement related to COVID-19 coverage.

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The federal income and state tax filing due date for individuals for the 2020 tax year has been automatically extended from April 15 to May 17.  On the federal level, individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15 to May 17 without ...

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First two aid packages to send over $20 million to many of the state’s most vulnerable fishing-related businesses. Special to TAPinto. This story was written and produced by NJ Spotlight. It is being republished under a special NJ News Commons content-sharing agreement related to COVID-19 ...

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With workers and businesses slammed, calls for more government aid to ‘supercharge’ the economy. Special to TAPinto.net. This story was written and produced by NJ Spotlight. It is being republished under a special NJ News Commons content-sharing agreement related to COVID-19 coverage. To read ...

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TRENTON, NJ — Gov. Phil Murphy's fiscal year 2022 budget includes $200 million to support New Jersey’s small businesses — the backbone of the state's economy. Hit hard by the COVID pandemic, small businesses have been forced to adapt to a vastly changed economy. The governor's budget allocates ...

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Rundown of Largest Loan Recipients in Belmar, Lake Como TRENTON, NJ — Small businesses in New Jersey that received federal Paycheck Protection Program loans are getting a tax break. Gov. Phil Murphy has announced that the Small Business Administration-backed PPP loans will not be subject to ...

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NEW BRUNSWICK, NJ — More Americans think that jobs, careers and employment opportunities after the pandemic will be harder to obtain for the next generation than they were following the 2008 Great Recession, according to a new Rutgers report. The report, published by the Heldrich Center for ...

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NEW JERSEY — Making it easier for downtown businesses to do business during the coronavirus pandemic was a common theme among mayors participating in a statewide conference that focused on how their municipalities have navigated through the public health crisis.  During the Downtown NJ’s annual ...

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TRENTON, NJ — New Jersey’s minimum hourly wage has gone up by $1 to $12 per hour for most employees, beginning on January 1. In February 2019, Gov. Phil Murphy signed a law that incrementally increases the minimum hourly wage to $15 by 2024 for most employees, but gives seasonal, small, and ...

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WASHINGTON, DC — The Internal Revenue Service and Treasury Department have begun delivering a second round of economic impact payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier ...

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WASHINGTON, DC — The Internal Revenue Service encourages taxpayers to take necessary actions in the final weeks of the year to help file federal tax returns timely and accurately in 2021. A special page, updated and available on IRS.gov, outlines steps taxpayers can take now to make tax filing ...

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WASHINGTON, DC — The Internal Revenue Service reminds taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year. Following special tax law changes made earlier this year, cash donations of up to $300 made before ...

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WASHINGTON, DC — Living with a disability can come with additional expenses. Achieving a Better Life Experience (ABLE) accounts are authorized tax-advantaged 529A accounts that help disabled people pay qualified disability-related expenses.  Here are some key things people should know about ...

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WASHINGTON, DC — The arrival of the holiday season is when many people think about how they can give back. Often taxpayers want to donate to a charity. The IRS has a tool that can help people figure out if giving to their favorite cause will also give them the gift of a tax deduction. Tax Exempt ...

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WASHINGTON, DC — The Internal Revenue Service is expanding payment options and other ways to resolve tax debt for taxpayers struggling financially because of the coronavirus pandemic.  These revised collection procedures will be helpful to taxpayers, especially those who have a record of filing ...

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WASHINGTON, DC — Gift cards are a popular and convenient gift for all occasions. They’re also a tool that scammers use to steal money from people. Scammers often target taxpayers by asking them to pay a fake tax bill with gift cards. They may also use a compromised email account to send emails ...

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WASHINGTON, DC — The Internal Revenue Service reminds anyone who doesn’t normally file a tax return that they have until 3 p.m.on Saturday, November 21, to register with the IRS for an economic impact payment. The only way remaining to get a payment in 2020 is to register using the Non-Filers: ...

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WASHINGTON, DC — The Internal Revenue Service has implemented a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS assessed its collection activities to see how it could apply relief for taxpayers who owe but are ...

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WASHINGTON, DC — The Internal Revenue Service, state tax agencies and the tax industry warn of a new text scam created by thieves that tricks people into disclosing bank account information under the guise of receiving the $1,200 economic impact payment (EIP). IRS, states and industry — working ...

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COVID-19 replaced daily commutes to New York with telecommuting from home offices in New Jersey. Lawmakers are saying residents should be taxed where they work This story was written and produced by NJ Spotlight. It is being republished under a special NJ News Commons content-sharing agreement ...

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TRENTON, NJ — Businesses in New Jersey will now have to abide by mandatory health and safety standards “to protect all New Jersey’s workers at work during the pandemic,” according to Gov. Phil Murphy. He signed an executive order on October 28  that “requires both private and public sector ...

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WASHINGTON, DC — The Internal Revenue Service has announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2021. Highlights of changes for 2021 The income ranges for determining eligibility to make deductible ...

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WASHINGTON, DC — The Internal Revenue Service reminds taxpayers that now is the perfect time to review their tax withholding and payments to avoid a surprise when filing next year. An adjustment or two made now may boost take home pay or allow taxpayers to pay more in the last quarter of 2020 to ...

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WASHINGTON, DC — The Internal Revenue Service reminds taxpayers who filed an extension that the October 15 due date to file their 2019 tax return is approaching. Taxpayers should file their tax returns on or before that deadline. For those who still owe, pay as soon as possible to reduce any ...

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WASHINGTON, DC — The Internal Revenue Service announced that Free File, the IRS-private sector partnership that offers free tax preparation products, scored a record percentage increase in new users as taxpayers turned to free name-brand providers in 2020. IRS Free File online products marked a ...

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WASHINGTON, DC — The Internal Revenue Service reminds taxpayers who filed an extension that the October 15 due date to file 2019 tax returns is approaching. Taxpayers should complete their tax returns and file on or before that deadline. They can pay online, by phone or with their mobile device ...

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WASHINGTON, DC — Whether it’s something they’ve been doing for years or something they just started to make extra money, taxpayers must report income earned from hobbies in 2020 on next year’s tax return. What the difference between a hobby and a business? A business operates to make a profit.

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