Wednesday, December 29, 2010

CCH Releases 2010 Tax Year in Review Tax Briefing

This Tax Briefing provides a review of the key tax law developments of 2010 and their impact on taxpayers -- Only 15 pages - good overview.

 

http://tax.cchgroup.com/downloads/files/pdfs/legislation/tax-yearend.pdf

 

Mary Lew Kehm, CPA


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Friday, December 24, 2010

FYI: New Jersey no longer mailing 1099-G forms

Per the most recent NJ State Tax Update, New Jersey is joining New York in
not mailing 1099-G forms:

"The State of New Jersey is no longer mailing Form 1099-G, Certain
Government Payments, to report the amount of a State tax refund a taxpayer
received. State income tax refunds may be taxable income for Federal
purposes for individuals who itemized their deductions on their Federal tax
return in the previous year. Taxpayers who need this information to complete
their Federal return will be able to view or print their 1099-G information
from the Division's Web site."

Also, Form NJ-2450 has been revised for Family Leave Insurance - Excess
family leave insurance contributions can be claimed as a credit on Form
NJ-1040. The maximum contribution for 2010 was 35.64. Taxpayers who had more
than the maximum amount withheld by two or more employers must enclose a
completed Form NJ-2450 with their return to claim the credit, unlike last
year, when many people lost the excess.

The Winter issue of the NJ State Tax Update is available at
http://www.state.nj.us/treasury/taxation/pdf/pubs/stn/winter10.pdf

Mary Lew Kehm, CPA
Whitehall, PA 18052
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