The Bridge Between State and Federal Tax

Mistakes happen, and taxes are not exempt. From time to time, taxpayers make typos, misinterpret information, or simply misread instructions. When this happens, the IRS generally sends some sort of notice indicating the extent of an issue, alerting the taxpayer as to the problem and proposing an alternate settlement, whether resulting in additional money owed by the taxpayer — or a larger refund from the IRS. When this happens, it is not necessary for taxpayers to file an amended federal return, but the same isn’t always true on the state side. In New Jersey, taxpayers must pay close…