The Internal Revenue Service announced that the nation's tax season will begin Monday, Jan. 23, 2017, and reminded taxpayers claiming certain tax credits to expect a longer wait for refunds. Some refunds will not be released until after Feb. 15. The IRS still anticipates issuing more than nine out of 10 refunds in less than 21 days, but there are some important factors to keep in mind for taxpayers.
New tax rate
Important! The new NJ sales and use tax rate effective 1/1/17 is 6.875 percent. Yes, that's a weird number, so if you're using software or point-of-sales technology, make sure you have set it for this new rate!
Louri Rivero Borr is a CPA licensed in both NJ and NY, with over 25 years of experience. The firm can provide you with unparalleled accounting services, provide tax services and advice, and perform audits, reviews or compilations.
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