The U.S. Supreme Court issued an order reviving the Corporate Transparency Act (CTA) and its Beneficial Ownership Information (BOI) reporting requirements. Reporting entities established before … [Read more...] about Supreme Court Revives BOI Reporting
Tax Court Denies Clothing Donations of $25,446
Duncan Bass worked hard. He worked one full-time job for about 53 hours a week and a second job for about 15 hours a week. In addition to his W-2 jobs, Mr. Bass operated a landscaping, … [Read more...] about Tax Court Denies Clothing Donations of $25,446
New PA Tax Deduction
On July 17, 2024, Pennsylvania Governor Josh Shapiro signed Act 56 of 2024 into law. This Bill provides a new tax deduction for student loan interest payments. Pennsylvania will … [Read more...] about New PA Tax Deduction
New Tax Credit for PA Businesses
On July 17, 2024, Pennsylvania Governor Josh Shapiro signed House Bill 1745 into law. This bill provides a new tax credit for PA businesses that contribute to their employees' 529 plans. The … [Read more...] about New Tax Credit for PA Businesses
Inherited IRAs
IRS Finally Figures Out What is Going On Way back in 2019, Congress passed the SECURE Act. One provision of this Bill changed the taxation of inherited IRAs on non-spousal … [Read more...] about Inherited IRAs
Pennsylvania’s Voluntary Disclosure Program
The Voluntary Disclosure Program (VDP) provides an opportunity for businesses and individuals who have recently become aware of their Pennsylvania tax obligations to voluntarily come forward. In … [Read more...] about Pennsylvania’s Voluntary Disclosure Program
