New York City’s Freelance Act Establishes New Requirements for Hiring Independent Contractors

New York Citys Freelance Act Establishes New Requirements for Hiring Independent Contractors

New York City Mayor Bill DeBlasio recently signed into law the Freelance Isn’t Free Act (FIFA) in an attempt to protect independent contractors. The provisions of this law go into effect on May 15, 2017. FIFA has set a number of standards that anyone other than a governmental agency must comply with when hiring a “freelance worker”. FIFA defines a freelance worker to be any natural person or any organization (such as a corporation or limited liability company) composed of no more than one natural person, whether or not incorporated or employing a trade name, that is hired or retained as an independent contractor by a hiring party to provide services in exchange for compensation. The act specifically excludes sales representatives, attorneys and medical professionals from the definition of freelance employees.

FIFA requires a written contract when the hiring party hires the freelance worker for $800 or more of work within a 120 day period. The contract must include the name and mailing address of both parties, an itemization of all services to be performed, the rate and method of compensation and the date on which the hiring party must pay the contracted amount. If the contract doesn’t specify a date of payment, payment must be made within 30 days after the completion of the work. Additionally, FIFA provides for a number of damages for violations of the various sections of the act.

While FIFA should help to protect the rights of independent contractors, it also creates additional complexities when hiring independent contractors. New York City businesses and residents will need to ensure that they comply with the requirements of FIFA to avoid any damages provided for in the act.

For more information, or if you have any questions about this or any other tax matter, please contact your Wilkin & Guttenplan advisor or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

New Jersey Expands Veteran Benefits

New Jersey Expands Veteran Benefits

New Jersey continues to expand veteran benefits. In addition to the housing, employment, education, and financial benefits already provided, the recent Transportation Trust Fund legislation enables veterans that were honorably discharged or released under honorable circumstances to receive up to a $3,000 exemption while filing their 2017 New Jersey tax return. The exemption applies to the following active duty branches: Armed Forces of the United States (or a reserve component thereof), or the National Guard of New Jersey in Federal active duty status. This exemption will reduce taxable income earned beginning in 2017 and should be taken if the above criteria is met.

Click here for a comprehensive list of programs and tax incentives available to veterans.

For more information, or if you have any questions about this or any other tax matter, please contact your Wilkin & Guttenplan advisor or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

Driver’s License or State Identification Required for New York E-file

Drivers License or State Identification Required for New York E file

In an effort to combat identity theft, the State of New York is now requiring that all individual income tax returns that are electronically filed with the state include information from the taxpayer’s driver’s license or state identification. Information that is required to be included with an electronically filed New York tax return includes the identification number, issuing state, issuing date, and expiration date for all driver’s licenses or state-issued identification cards. The new requirement applies to both resident and nonresident New York tax returns filed for the 2016 tax year or later, and is in addition to the state’s electronic filing mandate on all tax returns. Therefore, in the event that a taxpayer does not have a driver’s license or state-issued identification, this new requirement will be fulfilled by checking a box to indicate that the taxpayer has neither forms of identification required for e-file; the taxpayer should not paper file his or her individual income tax return.

Although not yet required by the IRS or every state it is likely a matter of time before these rules are implemented nationwide in order to combat identity theft. Taxpayers wishing to electronically file their returns will need to provide their accountant with their driver license number.

For more information, or if you have any questions about this or any other tax matter, please contact your Wilkin & Guttenplan advisor or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

New Jersey Announces 2016 Tax Refunds Will Be Delayed

New Jersey Announces 2016 Tax Refunds Will Be Delayed

January 19th marked the first day the Internal Revenue Service began accepting tax returns for the 2016 filing period. As the IRS ramps up their capability to accept the millions of tax forms so do the states. In an effort to curb identity theft and refund fraud New Jersey has announced that they will utilize additional tools to protect NJ taxpayers. The inclusion of these new tools will result in refund delays. The state’s announcement estimates that returns filed electronically may take a minimum of four weeks to validate and process and returns filed on paper may take a minimum of 12 weeks to validate and process. As a result of the above changes, tax year 2016 refunds will be issued, at the earliest, March 1, 2017.

Should a taxpayer find themselves in the position that the State of New Jersey requires additional documentation and verification as a result of these newly implemented tools please be aware that a new online tool, NJ Online Notice Response Service, is being offered to expedite response time and resolution which can be found here.

For more information, or if you have any questions about this or any other tax matter, please contact your Wilkin & Guttenplan advisor or email us at This email address is being protected from spambots. You need JavaScript enabled to view it..

Career Center
Awards
Videos

BestPlacesLogo2017cmyk Millennials Best Places logo Final  2017 IPA 300 WebACTBestFirms2017