Action Required: New Jersey Estate Tax is Repealed

- By : P. Patel

Earlier this month, on October 14, 2016, New Jersey Governor Chris Christie signed into law that increased the NJ Estate Tax exemption from $675,000 to $2 million for deaths in 2017, and fully eliminated the state estate tax in full

New Jersey to repeal estate tax

- By : P. Patel

Last week, the New Jersey legislature announced its plan to repeal estate tax by January 2018.  The New Jersey estate tax is presently one of the highest in the nation. For state residents the estate tax exemption would be increased

Taxation of Employment-related Discrimination Claims

- By : P. Patel

Proceeds from a settlement involving an employment-related discrimination case may be taxable to the employee under some circumstances and not taxable in others.   Non-taxable settlement amounts: Medical expenses associated with medical distress; Emotional distress, pain or suffering resulting from

Article Discusses Termination of Offshore Voluntary Disclosure Program (OVDP) and the Streamlined Filing Compliance Procedures (SFCP)

- By : P. Patel

The Internal Revenue Service (IRS) currently offers non-compliant US taxpayers several different relief programs in which to report foreign assets and/or income and become compliant with US rules related to the disclosure of foreign assets. One option is the Offshore

Income Taxation of FMLA Claims

- By : P. Patel

The Family Medical Leave Act requires employers with 50 or more employees to grant 12 weeks of unpaid leave to an employee in the event of a birth, adoption or serious health condition — whether it’s the employee or someone