Business & Finance

April 18, 2021

TRENTON, NJ – The New Jersey Economic Development Authority (NJEDA) has announced Phase 4 of the Authority’s Small Business Emergency Assistance Grant Program, adding $85 million in funds from the Coronavirus Aid, Relief, and Economic Security (CARES) Act. It will provide short-term operating ...

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WASHINGTON — The Internal Revenue Service today continued an ongoing effort to help those experiencing homelessness during the pandemic by reminding people who don’t have a permanent address or a bank account that they may still qualify for Economic Impact Payments and other tax benefits. While ...

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WASHINGTON — The Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they are disbursing nearly 2 million payments in the fifth batch of Economic Impact Payments from the American Rescue Plan. The announcement brings the total disbursed so ...

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NEWARK, NJ — When Judy Rodriguez was a sophomore at Elizabeth High School, her history teacher gave her a key piece of information that would empower her, then one day power New Jersey. "She gave us an aptitude test, and the result for me was that I would be good at the STEM (science, ...

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WASHINGTON - As people across the country file their 2020 tax returns, some are claiming the 2020 Recovery Rebate Credit (RRC). The IRS is mailing letters to some taxpayers who claimed the 2020 credit and may be getting a different amount than they expected.  It’s important to remember that the ...

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WASHINGTON – Unclaimed income tax refunds worth more than $1.3 billion await an estimated 1.3 million taxpayers who did not file a 2017 Form 1040 federal income tax return, according to the Internal Revenue Service. “The IRS wants to help taxpayers who are due refunds but haven’t filed their ...

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WAYNE, NJ – The American Rescue Plan was signed into law on March 11. Some funding in this law provided us with our $1,400 economic stimulus payments. It also earmarks billions of dollars for rent and mortgage support, recovery money for states and tribal governments. This law will also be the ...

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MEDFORD, NJ – Gov. Phil Murphy Thursday signed into law S-3523, which provides $25 million in federal COVID-19 relief aid for small businesses throughout New Jersey. The bill provides a lifeline to microbusinesses with five or fewer employees. The bill is part of a five-bill, $100 million relief ...

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WASHINGTON – To help taxpayers, the Internal Revenue Service announced that it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan. The ...

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NEW JERSEY — New Jersey was ranked as the seventh highest state with the overall tax burden with a 9.98% overall state tax according to personal finance website WalletHub’s  2021 Tax Burden by State report. Nearby New York was the highest taxed state in the nation. What accounts for New Jersey's ...

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WASHINGTON – As work continues on issuing millions of Economic Impact Payments to Americans, the Internal Revenue Service and Treasury Department announced that they anticipate payments will begin to be issued this weekend to Social Security recipients and other federal beneficiaries who do not ...

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WASHINGTON – The Internal Revenue Service announced that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15, such as making IRA contributions and filing certain claims for refund. This follows a previous announcement from the IRS on March 17, that ...

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The IRS continues to issue the third round of Economic Impact Payments to eligible individuals, with payments being issued as a direct deposit or by mail as a paper check or prepaid EIP debit card. No action is needed by most eligible people to receive a third Economic Impact Payment ...

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WASHINGTON – The Internal Revenue Service announced the next batch of Economic Impact Payments will be issued to taxpayers this week, with many of these coming by paper check or prepaid debit card. For taxpayers receiving direct deposit, this batch of payments began processing on Friday and will ...

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WASHINGTON — The Internal Revenue Service reminds taxpayers that the most convenient way to check on a tax refund is by using the “Where’s My Refund?” tool at IRS.gov or through the IRS2Go Mobile App. Taxpayers can start checking their refund status within 24 hours after an e-filed return is ...

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WASHINGTON, DC/TRENTON, NJ - The Internal Revenue Service extended the tax filing deadline from April 15 to May 17 due to the changes that were made in the American Rescue Plan Act of 2021 signed last week.  The State of New Jersey, according to State Senator and Wood-Ridge Mayor Paul Sarlo, ...

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Fewer strings attached in this round of relief. No details of exactly how the state will spend pandemic-focused funds. 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 ...

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WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming ...

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WASHINGTON — The Internal Revenue Service reminds taxpayers about the rules for required minimum distributions (RMDs) from retirement accounts. A retirement plan account owner must normally begin taking an RMD annually starting the year he or she reaches 70 ½ or 72, depending on their birthdate ...

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KENILWORTH, NJ — New Jersey will receive $10 Billion in aid as part of the $1.9 trillion coronavirus relief package signed by President Joe Biden on Thursday. Those funds are being given to local and county governments to help combat the pandemic and spur economic recovery. According to Gerry ...

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WASHINGTON – The Internal Revenue Service announced that the third round of Economic Impact Payments will begin reaching Americans over the next week. Following approval of the American Rescue Plan Act, the first batch of payments will be sent by direct deposit, which some recipients will start ...

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KENILWORTH, NJ — According to Gerry Laudati, Finance Chairman of the Borough Council, Senator Melendez’s office confirmed that Kenilworth is slated to receive $804,620.05 in aid. This is part of the $1.9 trillion coronavirus relief package signed by President Joe Biden on Thursday, March ...

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WASHINGTON - The Internal Revenue Service notes that taxpayers of all ages may be able to claim a deduction on their 2020 tax return for contributions to their Individual Retirement Arrangement made through April 15, 2021. There is no longer a maximum age for making IRA contributions. An IRA is ...

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KENILWORTH, NJ – Today, March 11, Finance Chairman Gerry Laudati pressed the Federal Court for passage of the COVID relief bill. Please see his following message to residents.  The money can be used as direct flexible funding and can be used by state and local governments to pay COVID-19 related ...

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WASHINGTON – The Internal Revenue Service urges people to continue practicing proper cybersecurity habits by securing computers, phones and other devices. Scams and schemes using the IRS as a lure can take on many variations, so practicing personal information security is vital. This news ...

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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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WASHINGTON – The Internal Revenue Service reminds first-time filers and those who usually don’t have a federal filing requirement to consider filing a 2020 tax return. They may be eligible to claim the  Recovery Rebate Credit, a new refundable credit, authorized by the Coronavirus Aid, Relief, and ...

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NEW JERSEY -- Earlier this week, Gov. Phil Murphy unveiled his Fiscal Year 2022 Budget, which included $200 million to support New Jersey’s small businesses, the backbone of New Jersey’s economy. Hit hard by the COVID pandemic, small businesses have been forced to adapt to a vastly changed ...

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Active duty military personnel have multiple options for free federal tax preparation. One is IRS Free File. This program offers online tax preparation, electronic filing and direct deposit of refunds, at no cost. Members of military and their families who have income below $72,000 may choose ...

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