New Digital Asset Regs a ‘Huge Milestone,’ Crypto Tax Expert SaysSeptember 11, 2023
By Tim Shaw Long-awaited proposed regs clarifying information reporting and basis determination rules for digital asset transactions under the Infrastructure Investment and Jobs Act are a step in the right direction and demonstrate Treasury’s commitment to understanding the crypto ecosystem, according to a former senior IRS official. Enacted almost two years ago in November 2021, …
Clean Vehicle CreditsSeptember 5, 2023
Taxpayers are cautioned to be aware of changes made by Inflation Reduction Act ’22 when considering the purchase of a new or used clean vehicle. The Internal Revenue Service reminded consumers considering an automobile purchase to be sure to understand several recent changes to the new Clean Vehicle Credit for qualified plug-in electric drive vehicles, …
The Curchin Group Raises $12,500 for Two Local Charities at the 2nd Curchin Cornhole Classic Event!August 28, 2023
The Curchin Group, LLC, a mid-sized, full-service accounting firm based in Red Bank, N.J., hosted its 2nd Annual Curchin Cornhole Classic Event on Wednesday, August 16th, 2023. This year a total of $12,500 was raised for the two chosen charities: CASA of Monmouth County and the Northern Ocean Habitat for Humanity. The new outdoor cornhole …
Division of Taxation Mails ANCHOR Benefit Confirmation LettersAugust 17, 2023
The New Jersey Division of Taxation has begun mailing letters to taxpayers who received property tax relief benefits through the ANCHOR program last year will soon receive a letter that confirms their eligibility for the 2020 tax year and notification that they will not need to re-file an application to receive a check or direct …
Recent New Jersey Tax UpdatesJuly 19, 2023
Businesses Income Sourcing – Effective January 1, 2023, the sourcing rules for Gross Income Tax purposes will follow the Corporation Business Tax sourcing rules. A taxpayer that engages in a trade or business, a partner in a partnership or a shareholder of an S Corporation that conducts business operations inside and outside of New Jersey …
Local Charities Selected to Receive Proceeds from 2nd Annual Curchin Cornhole Classic Event!June 6, 2023
The Curchin Group, LLC, a mid-sized, full-service accounting firm based in Red Bank, N.J., announced today that CASA of Monmouth County and the Northern Ocean Habitat for Humanity, two locally-based nonprofit organizations will be receiving all proceeds from the firm’s 2023 outdoor cornhole tournament for charity, The Curchin Cornhole Classic. Since 2005 our annual charity …
Key Individual Provisions in SECURE 2.0January 16, 2023
In late December while most practitioners and their clients were busy with other things, Congress was passing a giant omnibus budget bill. Buried within it was the Setting Every Community Up for Retirement Enhancement 2.0 Act of 2022 (SECURE 2.0), which contains many retirement (and some other) changes that practitioners and their clients need to …
Fall 2022 NewsletterNovember 9, 2022
The latest issue of the Curchin Newsletter is here! You can look forward to reading about hot topics in accounting/tax/audit, firm news, and more! In this issue: End of Year Planning for Construction Companies Read More
Child Tax CreditOctober 17, 2022
The New Jersey Division of Taxation has advised that starting with the tax year 2022, eligible New Jersey residents can claim a refundable child tax credit on their New Jersey Resident Income Tax Return (Form NJ-1040). The credit amount can be up to $500 for each dependent child age 5 or younger at year-end that …
With IRS Funding Secured, Treasury Chief Outlines 6-Month PlanSeptember 16, 2022
The IRS is poised to course-correct from COVID-19 setbacks impacting customer service and uncollected taxes from top earners, according to the top Treasury Department official, who announced targets for next filing season using additional appropriations from the Inflation Reduction Act (PL 117-169). Speaking at the IRS’ New Carrollton, Maryland, facility on September 15, Treasury Secretary …