FILING RELIEF FOR VICTIMS OF SANDY

I just heard that the “IRS Gives Additional Time to Taxpayers and Preparers Affected by Hurricane Sandy; File and Pay by Nov. 7”.

“The Internal Revenue Service today announced it is granting taxpayers and tax preparers affected by Hurricane Sandy until Nov. 7 to file returns and accompanying payments normally due today. 

The relief applies to taxpayers and tax preparers in an area affected by Hurricane Sandy or otherwise impacted by the storm that hit the Mid-Atlantic and Northeastern United States this week.

This relief primarily applies to businesses whose payroll and excise tax returns and payments are normally due today. No action is required by the taxpayer; this relief is automatic. Regular federal tax deposits are due according to current rules. However, the IRS notes that if taxpayers or tax practitioners receive a penalty notice for this period, they can contact the IRS at the number on the notice to request penalty abatement due to reasonable cause on account of the storm.”

 

TAFN

 

 

NJ HOMESTEAD BENEFIT UPDATE

The deadline for submitting the NJ Homestead Benefit application has been extended. 

“Acting to ensure that as many New Jerseyans as possible receive property tax relief, Governor Chris Christie has extended the deadline for filing Homestead Benefit applications to Friday, December 14.”

It appears that this extension does not also apply to the Property Tax Reimbursement application (PTR-1 and PTR-2).

This has nothing to do with SANDY – the press release was dated October 9, 2013.  I expect that a notice extending tax payments and filings due to SANDY will be forthcoming. 

New York has already issued the following announcement –

“Deadlines for filing and paying taxes has been suspended for the period from October 26, 2012 through November 14, 2012. Tax returns and tax payments that are due during this period are now due on November 14, 2012”

The NJ Division of Taxation has also announced that –

“2011 Homestead Benefits will be applied as a credit to property tax bills in May 2013.”

TAFN

HOW DO I . . . ?

While visiting the website of the NJ Chapter of NATP I came across a link to the “How Do I ...” page of the NJDOT website.  This page is a great resource for tax pros, with lots of links to info on NJ taxes.

I clicked on “Get my Pennsylvania employer to stop withholding Pa income tax” and was taken to “NJ Income Tax - PA/NJ Reciprocal Income Tax Agreement”, where I actually learned something new that I could have used on many occasions in the past.  I was well aware of the reciprocal agreement between NJ and PA, but I did not know there was a form that would fix any problems.

“If you are a Pennsylvania resident and New Jersey income tax was withheld from your wages, you must file a New Jersey nonresident return to obtain a refund. To stop the withholding of New Jersey income tax, complete an Employee's Certificate of Non-Residence in New Jersey (Form NJ-165) and give it to your employer. When filing for a refund, Pennsylvania residents must enclose a signed statement with their New Jersey nonresident income tax returns declaring that they are residents of the Commonwealth of Pennsylvania. Order an Employee's Certificate of Non-Residence in New Jersey, Form NJ-165; New Jersey Nonresident Return, and instruction booklet, or go to our online tax forms.

Likewise, if you are a New Jersey resident and Pennsylvania income tax was withheld from wages you earned there, you must file a Pennsylvania return to obtain a refund. To stop the withholding of Pennsylvania income tax, New Jersey residents who receive compensation from Pennsylvania must complete Form REV-419, Employee’s Nonwithholding Application Certificate, and give it to their employer. More information is available on the Pennsylvania Department of Revenue Web site or by calling 1-717-787-8201.”

While I am sure we can all agree that the NJDOT is not the most competent of organizations, nobody can question the fact that it has a great website with tons of good information and resources.

TAFN