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
PA Unreimbursed Expenses
Some workers may be able to deduct eligible work-related expenses from their PA state income tax. The following information can help you determine which expenses are deductible as unreimbursed … [Read more...] about PA Unreimbursed Expenses
IRS Collections – Updates
I had the opportunity to listen to a podcast hosted by attorney Eric Green. His guest on the podcast was Rocco Steco, the Acting Director for Collection Policy at the IRS. Many temporary … [Read more...] about IRS Collections – Updates
Happy Birthday to Health Savings Accounts
As health insurance premiums get increasingly expensive, employers are looking to shift costs to their employees. They do this by having a high deductible health plan (HDHP). These plans … [Read more...] about Happy Birthday to Health Savings Accounts
