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

 

* From Russ Fox at TAXABLE TALK – “New Jersey: We Delayed Processing Your Extension Payment So We’re Going to Penalize You for Our Error”.

As Russ points out –

“This is also a reminder to you that many notices sent by tax agencies are wrong in part or in whole.  Do not blindly pay a notice!  Send it to your tax professional and have them check it for accuracy.”

In my experience, more often than not error notices from the IRS and state tax agencies are incorrect.  And especially notices from the NJ Division of Taxation.

* The NJ DIVISION OF TAXATION website discusses “One Big Beautiful Bill Act (OBBBA) and the New Jersey Gross Income Tax” (highlight is mine)–

“For Tax Years 2025 through 2028, under the One Big Beautiful Bill Act (OBBBA) there are new federal income tax deductions for senior citizens, overtime, and tips. However, the New Jersey Gross Income Tax (GIT) has defined categories of income and deductions and is not computed based on federal adjusted gross income. Therefore, federal deductions under the federal OBBBA regarding overtime, tips, and senior citizens do not affect a taxpayer's New Jersey Individual Income Tax return (Form NJ-1040, NJ-1040NR, or NJ-1041).”

And “One Big Beautiful Bill Act (OBBBA) - Changes to Charitable Contribution Deductions” (again, highlight is mine) -

“For the purposes of the New Jersey Gross Income Tax Act, there is no provision similar to the Federal Internal Revenue Code allowing charitable deductions. Therefore, there are no changes for Gross Income Tax purposes.”

* The NATP reports “IRS first-time penalty abatement: automatic in 2026” (highlight is mine) –

“The IRS administrative penalty waiver for first-time abatement (FTA) has been in existence since 2001. In the past, tax professionals and taxpayers had to write or call the IRS to request the waiver. Starting in 2026, taxpayers who qualify for FTA will automatically receive the abatement from the IRS.”

The article includes an overview of the First-Time Abatement requirements.

THE LAST WORD

Every single person who voted for convicted felon and indicted traitor Trump for President in 2024 is truly an enemy of the state and an enemy of the people, a traitor to the United States and to the Constitution, and the greatest threat facing America today.

There has NEVER been an intelligent or acceptable reason for ANYONE to vote for Trump for ANY office!

TTFN