STUFF

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+ The New Jersey chapter of NATP will hold a “Breakfast Seminar” on Pennsylvania Tax Law on the morning of May 28th at the Mt Laurel Marriott at 915 Route 73 in Mt Laurel (1-856-234-7300).

+ The Spring 2009 issue of the NEW JERSEY STATE TAX NEWS is available to download. Click here.

TAFN

LOOK WHAT I JUST FOUND

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I just discovered this information from the NJ Division of Taxation website.

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“Senior and disabled residents who qualify for a 2007 property tax reimbursement because of the recent increase in income limits for the Senior Freeze (Property Tax Reimbursement) Program now have until June 1, 2009, to file applications, Governor Jon S. Corzine announced today. The original deadline for the newly eligible applicants to file their 2007 applications was March 31, 2009.

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Governor Corzine signed the legislation to expand the income limits of the Senior Freeze Program in December as part of his New Jersey economic assistance and recovery package. The first phase of the expansion increased the income eligibility limits for 2007 from about $45,000 for single applicants and approximately $55,000 for married/civil union couples to $60,000 for all applicants.

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As a result of the increase in the income limit for 2007, some senior and disabled New Jersey residents who did not previously qualify became eligible to apply for a reimbursement. The amount of the Senior Freeze reimbursement would be the difference between property taxes paid for the first year the applicant met all the eligibility requirements, and the property taxes for the reimbursement year.

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The expansion of the Senior Freeze Program significantly increases income eligibility limits for seniors and disabled citizens for the next two tax years as well. The income limits increased to $70,000 for tax year 2008 and will increase to $80,000 for tax year 2009. The deadline for filing applications for the 2008 tax year is also June 1, 2009.”

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It doesn’t surprise me. Each year NJ sets initial deadlines for the Property Tax Reimbursement and NJ Homestead Rebate applications - which are always eventually extended until October.

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Click here to read the entire press release.

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TAFN

THIS JUST IN - NEW JERSEY TAX AMNESTY

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It appears that the State of New Jersey will institute a Tax Amnesty program. NJ has had success with such programs in the past.

Here is the word from the NJ Division of Taxation -

“Governor Jon S. Corzine recently signed a bill into law that requires the Director of the Division of Taxation to establish a tax amnesty period, not to exceed 45 days in duration, which shall end no later than June 15, 2009. As a result, the Division of Taxation has announced the Tax Amnesty program will begin on May 4, 2009, and end on June 15, 2009. In accordance with the law, amnesty “…shall apply only to State tax liabilities for tax returns due on or after January 1, 2002 and prior to February 1, 2009 and shall not extend to any taxpayer who at the time of payment is under criminal investigation or charge for any State tax matter, as certified by a county prosecutor or the Attorney General to the director.”

In accordance with the provisions of the law, the program will offer a waiver of all penalties, referral cost fees, and one-half of the balance of the interest that remains due as of May 1, 2009, provided payment of all tax owed and one-half of the balance of the interest that remains due is paid in full during the amnesty period. In addition, all filing requirements must be satisfied for delinquent returns.

More information will be posted on a special Web site that is being planned and developed. In addition, a public awareness campaign is planned and is expected to be implemented on or about mid-April.

The Division of Taxation plans an outreach mailing to all taxpayers who are known to have amnesty-eligible deficient and/or delinquent accounts. In addition, a phone number will be established for the public to reach a special Call Center where representatives will be trained to answer specific inquiries. The Call Center is expected to be established on or about the week of April 27.”

Click below for more information -

2009 Tax Amnesty – General FAQ
FAQ for Special Situations & Tax Practitioners

Now if only Congress would institute a federal Tax Amnesty Program!

TAFN

THANK GOD IT'S OVER!

TAX SEASON'S OVER.
MY FACE IT HAS A BIG SMILE.
SO IT'S OFF TO THE SHORE -
1040s NO MORE!
AT LEAST FOR A WHILE.

"Talk" to you soon.