How to Handle Disagreements with the IRS

If you get stuck in a tax audit, you have several options once the IRS makes its decision regarding your return. One option is to appeal the decision. Almost all decisions made by IRS agents have appeal rights.

IRS appeals officers are independent of IRS examinations and collections divisions. They are charged with being fair and impartial while resolving taxpayer disputes with the IRS. They look at cases differently than an IRS auditor or collection agent would. Here's what you need to know if you decide to appeal an IRS audit decision.

KRS Participated in Jersey Cares Frosty’s Friends

Frosty’s Friends is organized by Jersey Cares and aims to spread holiday cheer to children in shelters or transitional housing facilities.

As a volunteer for Frosty's Friends, we had the opportunity to provide a child between the ages of 3-16 with what may be the only gift they receive for the holidays this year.

Rosi Ventura Joins KRS CPAs!

Rosi Ventura became a member of the KRS family in January of this year.

She is the receptionist and first point of contact at the firm. She also has been given more responsibilities from publications to assisting the controller.

Sean Faust joins KRS CPAs!

Sean Faust became a member of the KRS family in February as a Senior Accountant.

He assists clients in a variety of aspects, from preparing income tax returns for individual and businesses to consulting for clients on year-end tax planning strategies.

NJ Paid Sick Leave Law Focus of Next KRS Insights Breakfast

The KRS Insights Breakfast Series resumes on December 6 with a review and update of the newly effective New Jersey Paid Sick Leave Law.

Join us on December 6 as Mark F. Kluger, Partner, Kluger Healey, LLC provides an overview of the NJ Paid Sick Leave Law including new regulations that have been issued since the law was initially passed and what employers need to know to stay in compliance.

KRS Again Recognized Among Top 100 Employers by Accounting Today

KRS CPAs was named as one of the Accounting Today’s 2018 Best Accounting Firms to Work for. This marks the sixth time the Paramus-based firm has received this prominent award.

“KRS is a growing firm and we offer our employees competitive salaries and many opportunities for them to grow in their careers,” says Managing Partner Maria Rollins, CPA, MST.

Accounting Today, the leading media and digital resource for public accountants, recognizes the best 100 accounting firms in the United States that excel in their efforts to build quality workplaces for their staff.

KRS to Participate in NJCPA’s Annual Food Drive

Please join KRS CPAs in collecting non-perishable food for the NJCPA annual food drive to benefit the Community FoodBank of New Jersey! Bring any non-perishable food to our offices by November 14.

There are all too many people here in New Jersey who have been left behind despite economic growth. The assistance that the Community FoodBank provides would not be possible without our help!

New Jersey’s Minimum Wage to Rise in 2019

Effective January 1, 2019, New Jersey employers will generally be required to pay a minimum wage of at least $8.85 per hour to their employees, up 25 cents from 2018.

ACA Affordability Threshold to Rise in 2019

The ACA requires that employers with 50 or more full-time-equivalent employees provide minimum essential coverage that is affordable — or face a penalty for not complying.

Each year, the affordability percentage for health coverage is adjusted for inflation. For 2018, the rate is 9.56 percent of the employee's household income, down from 9.69 percent in 2017.

Starting in 2019, the affordability percentage will increase to 9.86 percent — the highest amount since the ACA's passage. This means that employees' premiums for the lowest-cost self-only coverage cannot be more than 9.86 percent of their household income.