Taxation

The Internal Revenue Service has launched a new online search tool, Exempt Organizations Select Check, to help users more easily find key information about tax-exempt organizations, such as federal tax status and filings.

The Internal Revenue Service (IRS) has begun providing test results to tax return preparers who have taken the new return preparer competency test. Those who pass the test and a tax compliance check will be given a new designation: Registered Tax Return Preparer.

The Internal Revenue Service has announced a major expansion of its “Fresh Start” initiative to help struggling taxpayers by taking steps to provide new penalty relief to the unemployed and making Installment Agreements available to more people.

The New Jersey Division of Taxation has a new service that allows taxpayers to check the status of their New Jersey income tax refund online.

IRS agents are now starting to request client back-up files from QuickBooks and Peachtree software, and many practitioners are alarmed about how much information the IRS is requesting, and how the IRS is using the information.

The Internal Revenue Service has announced that interest rates will remain the same for the calendar quarter beginning April 1, 2012.

The Internal Revenue Service has released revised Form 941 enabling employers to properly report the newly extended payroll tax cut benefiting nearly 160 million workers.

The Internal Revenue Service has updated existing rules on permissible communications between the Office of Appeals and other parts of the IRS.

The New Jersey Division of Taxation has created a separate mailbox for email from tax practitioners regarding tax problems.

The Grow New Jersey Assistance Program, established in January, allows the Economic Development Authority to grant tax credits to businesses that meet certain eligibility qualifications.