Changes to the NJ Corporation Business Tax Act

Changes to the NJ Corporation Business Tax Act

On June 30, 2023, New Jersey’s legislature approved a significant corporation business tax (CBT) overhaul, the key provisions of which include: Modifying portions of the CBT code addressing the way earnings are apportioned to the state; Ending the 2.5% surcharge on...
MSPC Names Najoung Kim, CPA as Partner

MSPC Names Najoung Kim, CPA as Partner

MSPC Certified Public Accountants and Advisors, PC is pleased to announce that Najoung Kim has been named a partner in the firm. Najoung joined the firm in 2006 and has two decades of experience providing audit and assurance services to publicly traded and privately...
Recent Developments in FBAR Filing Requirements

Recent Developments in FBAR Filing Requirements

It is important to be aware that failing to file a Report of Foreign Bank and Financial Account (FBAR) can result in severe financial consequences. A $10,000 civil penalty is imposed for non-willful failures to file an FBAR, while willful failures are subject to a...