Governor Christie today signed an executive order directing the Director of the Division of Local Government to notify municipalities to accept payments for 2018 property taxes in calendar year 2017 and require them to credit those payments as received in 2017 if the payment is postmarked on or before December 31, 2017.
“The action I took today will ensure that local governments are flexible and accommodating of their local property taxpayers as we transition to the new federal tax code for 2018,” Governor Christie said. “This executive order requires local officials to dedicate the resources and staffing to serve New Jerseyans who are planning in this way for their families and their futures.”
A copy of the Executive Order is attached.
I think the postmark law should be effective for all government payments, always & not only for 2017.
Be careful this might be a setup… there’s a proposal out there which Christie supports that will allow you to deduct state taxes on your state income tax next year so if you were to prepay you won’t get that deduction…and what happens if the feds decide you can’t deduct prepayments you won’t be able to deduct the taxes for fed. and state cause it was paid in 2017
The IRS issued a ruling today, that you cannot prepay taxes for q3 and q4 of 2018 since the township hasn’t billed for it yet.
So be careful before doing this.
You will not gain anything by paying your full tax bill.
@Hunch I assume you mean this https://www.irs.gov/newsroom/irs-advisory-prepaid-real-property-taxes-may-be-deductible-in-2017-if-assessed-and-paid-in-2017
Are you confident that the first quarters of 2018 are eligible?
Just because the state or townships are taking money doesn’t mean it’s tax deductible.
If you know it’s not deductible and you take tax writeoff anyway even if you don’t get audited it’s not yashrus.