Category: Tax


Robert S. Schwartz, Esq. Governor Murphy and the New Jersey Legislature worked together this year to enact significant tax legislation. One aspect creates a property tax relief tax program for senior citizens via the Gross Income Tax Act (“GIT Act”). One aspect makes numerous changes to the Corporation Business Tax Act (“CBT Act”). In the …

Can an Attorney Help Me With Tax Planning?

The amount of tax you owe the government results from a year’s worth of tax planning. The federal and state tax laws are complicated. An experienced attorney can help you with tax planning, putting you in a better situation come tax season. Tax Laws Are Extremely Complex Tax planning is all about being proactive. You …

Do I Need a Tax Attorney if I am Being Audited by the IRS?

If the IRS sends you a letter informing you it will conduct an income tax audit, you face official, federal procedures involving your wealth and money, whether modest or great. IRS Revenue Agents conduct audits. They are trained professionals deputized to assess additional taxes, interest, and penalties against you or your business, assuming the facts …

An Unusual Occasion to Get Penalties Paid Money Back from the Federal Government

By Robert S. Schwartz, Esq. On February 28, 2023, the United States Supreme Court held that the Internal Revenue Service (“IRS”) exceeded its statutory authority by collecting excessive penalties on federal income taxpayers for their negligent failures to timely file accurate, annual foreign financial information reports, variously known as the Foreign Bank Account Report, or …

Herold Law Report on Inflation Reduction Act of 2022 Tax Changes

Not the Same as President Biden’s Build Back Better Act Tax Changes Robert S. Schwartz, Esq. Inflation Reduction Act of 2022 Legislative Process On November 19, 2021, the House of Representatives passed the last version of three significant versions of H.R. 5376, President Biden’s Build Back Better Act (“BBB”). We wrote about the versions’ extensive, …

What are Estate Taxes?

In the U.S., individuals and families with large estates and wealth must pay federal estate taxes, which apply to rich estates worth more than $12.06 million (as of 2022) or more than $24 million for married couples. This blog sheds light on what estate taxes are, what percentage heirs must pay, and how estate taxes …


“Reading the numerous exceptions and special rules of the new federal chemical excise taxes, I easily recalled the United States Tax Court’s recent description of the federal tax law as a whole: “One way to think about tax law is to view it as a series of general rules qualified by exceptions, and exceptions to …

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