Many people are often surprised to find themselves subject to the AMT, or alternative minimum tax. Although this tax was originally intended for a narrow group of taxpayers, it is now estimated to have an impact on millions of people.
MOUNTAINSIDE – Taxpayers seeking tax preparation assistance should look into the IRS sponsored, community-based, volunteer tax return preparation programs. The IRS sponsors both the Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs.
STATE—A majority (52 percent) of New Jersey voters approve of the way Gov. Chris Christie is handling his job so far, according to the most recent poll by Fairleigh Dickinson University’s PublicMind™.
MOUNTAINSIDE—Unclaimed refunds totaling approximately $43 million are awaiting about 39,900 New Jerseyans who did not file a federal income tax return for 2006. To collect the money, a return for 2006 must be filed with the IRS no later than April 15, 2010.
WASHINGTON, D.C. – The U.S. Postal Service is moving forward with plans to cut mail delivery to five days a week instead of the current six, in an attempt to improve its financial position.
Unless you raise chickens, the literal meaning of “Don’t put all your eggs in one basket” probably doesn’t apply. But we all know what the phrase implies: Don’t deposit all your money in one investment vehicle or you may risk losing it all. Think about employees who invested their entire 401(k) balances in company stock, then lost everything when the company folded (think Enron).
TRENTON – In an effort to reduce an impending automatic tax hike for New Jersey employers, Gov. Chris Christie proposed cutting the maximum weekly unemployment benefit payment by $50 and imposing a one-week waiting period before applicants could collect benefits.
NEWARK – An emerging scam where con artists target grandparents is being reported across the country and Acting Attorney General Paula T. Dow and Acting Consumer Affairs Director Sharon Joyce warned residents to be leery of callers claiming to be their grandchild and in need of money.
TRENTON – The New Jersey Senate approved a bipartisan package of legislation to reform the state’s public employee pension by a 36-0 vote with four abstentions today.
One major piece of legislation President Obama signed last year was the Credit Card Accountability, Responsibility and Disclosure (CARD) Act, which made fundamental changes to credit card agreements. Some provisions were adopted last summer, but the bulk of them took effect Feb. 22.