2017 Brings Accelerated Federal Filing Deadlines and New Jersey Sales Tax Rate Decrease

Article Excerpt:

Businesses should be aware that these tax changes are now on the books for 2017:

  • The Internal Revenue Service has accelerated the due date for filing with the IRS and Social Security Administration for all 2016 Forms W-2 and 1099-MISC.
  • The New Jersey sales tax rate has been reduced effective January 1, 2017 and the estate tax is being phased out within the next year.  In addition, the gas tax has been increased as has the earned income tax credit.