All posts by Jessica Dispensa

NJDOE & SDA APPROVE $450 MILLION IN SCHOOL CONSTRUCTION FUNDS

New Jersey Department of Education (NJDOE) and the New Jersey Schools Development Authority (SDA) announced the approval of nearly $450 million in school construction funds to address critical facilities needs in 261 school districts throughout the state. The NJDOE provides additional funding for school districts for the 23-24 school year. The funding will provide relief Read More…

FIREFIGHTERS GRANT OPPORTUNITY FOR CLEANING & PROTECTIVE EQUIPMENT

Earlier this week, the New Jersey Department of Community Affairs’ (DCA) Division of Local Government Services (DLGS) announced their application process is now open for the American Rescue Plan Firefighter Grant (ARPFFG) Program. Local New Jersey fire departments are encouraged to apply by December 8th, 2023, at 5 PM EST through the NJDCA SAGE Portal. Read More…

IRS ANNOUNCES RELIEF FOR INDIVIDUALS AND BUSINESSES IMPACTED BY THE TERRORIST ATTACKS IN ISRAEL

On Friday, October 13, 2023, the IRS announced tax relief for individuals and businesses affected by the terrorist attacks in the State of Israel.  IRS Notice 2023-71 provides relief to certain taxpayers who, due to the terrorist attacks, may be unable to meet a tax-filing or tax-payment obligation.   These taxpayers now have until October 7, Read More…

BUSINESSES, HAVE YOU APPLIED FOR YOUR 2020 & 2021 EMPLOYEE RETENTION TAX CREDIT? IF NOT, THERE’S STILL TIME!

Don’t leave money on the table! If you qualify for the ERTC you may be eligible to receive up to $26,000 per employee! An eligible employer is an employer that actively carries on a trade or business during calendar year 2020 or 2021, and meets one of the following two tests: Government Order Test: An Read More…

HAPPY LABOR DAY!

We hope you enjoy some peaceful time to reflect on the innovation, strength & resilience of the American Workforce and business community this holiday weekend. Let all your accomplishments fill your heart with pride this Labor Day! Thank you to all our employees for their hard work! We wish you a relaxing and happy Labor Read More…

CAN PARTNERS’ ARM’S LENGTH AGREEMENTS ON VALUATION SURVIVE IRS SCRUTINY?

In a recent Tax Court case, the IRS attempted — unsuccessfully — to supplant the fair market value agreed to by unrelated parties in a partnership transaction with its expert’s higher estimate, asserting that the taxpayer received a taxable capital interest in exchange for services provided to a partnership, not a nontaxable profits interest. If Read More…