The IRS has released (IRS Notice 2012-1) the 2012 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving expense … [Read more...] about IRS Announces 2012 Mileage Rates
PA Issues Act 32 Local EIT Reminder
The PA Department of Revenue has released a reminder to taxpayers that the Act 32 - Local Earned Income Tax Withholding Reform Requirements, will become effective statewide on January 1, 2012. We have … [Read more...] about PA Issues Act 32 Local EIT Reminder
THE DUMMY CONTRACT – PROTECT YOUR IRA ASSETS
How would you like to learn that your IRA account participated in a transaction whereby the entire value of your IRA account is deemed to be taxable to you … [Read more...] about THE DUMMY CONTRACT – PROTECT YOUR IRA ASSETS
IRS TAX TREATMENT OF EMPLOYER-PROVIDED CELL PHONES
The IRS recently released Notice 2011-72 to provide guidance on the tax treatment of cellular phones or other similar telecommunications equipment that employers provide to their employees. … [Read more...] about IRS TAX TREATMENT OF EMPLOYER-PROVIDED CELL PHONES
LOCAL EARNED INCOME TAX ACT 32 CHECKLIST
Due to the numerous comments received on the Act 32 changes affecting employers and employee local tax withholdings, our readers may find the this checklist of immense value. … [Read more...] about LOCAL EARNED INCOME TAX ACT 32 CHECKLIST
Illegal Workers Received $4.2 Billion in Tax Credits
The Treasury Inspector General for Tax Administration (TIGTA) reported on July 7, 2011 that individuals who are not authorized to work in the USA were paid $4.2 Billion in refundable tax credits from … [Read more...] about Illegal Workers Received $4.2 Billion in Tax Credits
