Archive for Tag: IRS

IRS just raised tax brackets 7% for inflation, it’s time NJ do the same, says Munoz

TRENTON, N.J. – The Internal Revenue Service adjusted tax brackets for 2023 by about 7% in an attempt to counter rapid inflation, the IRS said in a statement on Tuesday. But state tax brackets haven’t changed since 1996. That could mean New Jersey workers whose wages haven’t kept pace...

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Webber bill allowing businesses to deduct food donations clears committee

TRENTON, N.J. – Aiming to help New Jerseyans facing food insecurity, the Assembly Consumer Affairs Committee passed Assemblyman Jay Webber’s legislation creating a state income tax deduction for businesses that make charitable food donations. “Food banks are struggling to meet the increase in demand as more and more families...

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