WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

 

BUZZ is back on Tuesday.
 
* Sarah Brenner explains “3 IRA RULES TO KNOW BEFORE YOU WALK DOWN THE AISLE” at the SLOTT REPORT.
 
* BLOOMBERG TAX has posted an editorial on the lies being spread by Republicans (no surprise there) about the increased IRS funding provided by the “Inflation Reduction Act” titled “Sense and Nonsense About the IRS’ Funding Increase from Congress” (highlight is mine) -
 
“These {statements quoted in the editorial} and many similar statements about the IRS funding are not just misleading and nearly hysterical in tone—they’re also just dead wrong on the facts.”
 
* I have a new BOBSERVATIONS post.  Check it out.  And share with friends, family and colleagues.
 
* NJ.COM reports “The online portal for the N.J. ANCHOR property tax program is open and more areeligible. Here’s how to apply” -
 
“The online portal to apply for the state’s newest property tax savings program is open. . . . . . . Applications started to be emailed on Sept. 13, . . . . . Once you receive the application, you can apply online or by phone at (877) 658-2972.”
 
Click here to apply online.
 
* Kay Bell tells us “18 states sending residents tax refunds/rebates” at DON’T MESS WITH TAXES -
 
“ . . . payments going out in Massachusetts, as well as refunds headed to residents of California, Colorado, Delaware, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Maine, Minnesota, New Jersey, New Mexico, New York, Pennsylvania, South Carolina, and Virginia.”
 
I assume the NJ refund/rebate refers to the new ANCHOR program, which replaces the Homestead Benefit.  But I am not quite sure about PA.
 
* Have you checked out my TAX PLANNING RESOURCE CENTER yet?
 
* FYI – according to NJ INSIDER “New Jersey’s Minimum Wage to Increase to $14.13/Hour for Most Employees on Jan. 1” -
 
“New Jersey’s statewide minimum wage will increase by $1.13 to $14.13 per hour for most employees, effective January 1, 2023.
 
Annual increases in the minimum wage are due to legislation signed by Governor Murphy in February 2019 that raises the wage floor to $15 per hour by 2024 for most employees. Under the law, the minimum wage increases by $1 per hour – or more if warranted because of significant increases in the Consumer Price Index (CPI), as happened this year.”
 
And –
 
“Tipped workers’ cash wage will increase to $5.26/hour, with employers able to claim an $8.87 tip credit, an increase in the maximum allowable tip credit of $1. If the minimum cash wage plus an employee’s tips do not equal at least the state minimum wage, then the employer must pay the employee the difference.”
 
TTFN