Latest Posts › Income Taxes

Share:

PA Excludes Dependent Care Assistance from Taxable Income

The Commonwealth of Pennsylvania changed its tax treatment of assistance that employers provide for dependent care services – including dependent care flexible spending accounts. Retroactive to January 1, 2023, Pennsylvania...more

Business Better Podcast Episode: Tax Audits, Investigations, and Global Enforcement - A Conversation with IRS Special Agent... [Video]

In this episode, we are joined by Special Agent Jonathan Schnatz, Senior Analyst with IRS Criminal Investigation. Special Agent Schnatz will discuss his work with an international law enforcement and tax compliance group, and...more

PA Supreme Court Holds that Philadelphia Taxpayer may not Claim City Wage Tax Credit for Taxes Paid to Another State

In a 3-2 decision in Zilka v. Tax Review Board, the Pennsylvania Supreme Court upheld the Commonwealth Court and sided with the City of Philadelphia Department of Revenue in a case addressing whether a City resident was...more

IRS Addresses Non-Exempt Tax Status for NIL Organizations

Summary - The IRS recently advised that many organizations that develop paid name, image, and likeness—known as NIL—opportunities for college student-athletes are not eligible for tax-exempt status under Internal Revenue...more

IRS Changes Rules for Who Can Sign a Power of Attorney for an Entity Treated as a Partnership

Summary - In November 2022, the IRS updated its guidance regarding who can sign Form 2848, Power of Attorney and Declaration of Representative (POA), submitted on behalf of a limited liability company (LLC) treated as a...more

Pennsylvania Cuts Corporate Income Tax Rates, Makes Other Significant Tax Changes

Pennsylvania’s budget season just ended and Act 53 of 2022 (Act 53), made many significant changes to the Commonwealth’s business and individual taxes....more

Philadelphia Ordinance Requires Reporting of Federal Tax Changes

Philadelphia City Council enacted Ordinance No. 210139-AA (the Ordinance; available here), effective immediately, requiring all Philadelphia taxpayers to report any changes to their federal taxable income to the Philadelphia...more

IRS Extends Tax Deadlines

Due Date for 2020 Tax Returns and Most Payments Extended to May 17, 2021; Estimated Taxes Still Due April 15, 2021 - Due to lingering concerns related to the pandemic and material changes to the tax laws in the American...more

Pennsylvania Provides Additional Extensions for Many Tax Returns

In light of the ongoing pandemic, the Pennsylvania Department of Revenue announced that the due dates for many Pennsylvania individual and business tax returns have been extended....more

Carried Interest – Proposed Regulations and the Impact on Private Equity

Treasury and the IRS released proposed regulations under Section 1061 of the Internal Revenue Code (the Code) on July 31, 2020, that require certain taxpayers to satisfy a three-year holding period, rather than a one-year...more

Carried Interest – Proposed Regulations – Impact on Real Estate: The Good and the Bad

On July 31, 2020, the IRS and Treasury released the long-awaited proposed regulations on the new carried interest rules in Section 1061 of the Internal Revenue Code (IRC) that became law as part of the Tax Cuts and Jobs Act...more

Updated: State Tax Relief Available Due to COVID-19 Crisis

This alert summarizes (in alphabetical order by state) several types of state and local tax relief available as of April 14, 2020, in states where our offices are located and in selected other states....more

More Federal Tax Filing and Payment Extensions – The Floodgates Have Opened

As we noted in our alerts on March 19 and March 20, Treasury extended certain income tax filing and payment dates to July 15, 2020. On April 9, in Notice 2020-23, many more deadlines have been extended. Payment obligations...more

State Tax Relief Due to COVID-19 Crisis

This alert summarizes (in alphabetical order by state) several types of state and local tax relief available as of April 9, 2020, in states where our offices are located and in selected other states. ...more

Philadelphia Announces Use and Occupancy Relief; School Income Tax Remains Due on April 15

Use & Occupancy Tax Relief - On March 31, 2020, the City of Philadelphia Revenue Department announced that businesses that do not have access to their place of business because of the mayor’s March 17, 2020 order closing...more

Pennsylvania Tax Update: COVID-19 Relief Provisions

As we discussed, the Pennsylvania Department of Revenue (DOR) announced that Pennsylvania personal income tax (PIT) deadlines would conform to federal deadlines, and that PIT returns and payments due April 15, 2020 were...more

IRS FAQs Provide Additional COVID-19 Related Tax Deadline Guidance

The IRS released FAQs addressing the Treasury’s decision to move Tax Day (for both filing and payment) from April 15 to July 15, 2020....more

Minnesota Extends Time to File and Pay 2019 Individual Income Tax

The Minnesota Department of Revenue announced on March 23, 2020 that, in line with the extended federal deadlines, Minnesotans now have until July 15, 2020 to file their Minnesota individual income tax returns and to make tax...more

The Arizona Department of Revenue announced that it will postpone the deadline for filing and paying state income taxes from April...

The Arizona Department of Revenue announced that it will postpone the deadline for filing and paying state income taxes from April 15, 2020 until July 15, 2020, consistent with the extension of federal filing and payment...more

District of Columbia Extends Tax Deadlines in Conformity With Federal Extension

The D.C. Office of Tax and Revenue announced on March 23, 2020 that, in step with the federal deadline extensions announced by the IRS on March 20, 2020, the deadline for taxpayers to file and pay their 2019 individual,...more

Maryland Further Extends Tax Payment Deadline Due to COVID-19 Pandemic

Following the U.S. Treasury’s announcements last week extending the April 15 deadline for payment of federal income tax, Maryland announced a similar measure, postponing until July 15, 2020 all tax payments owed by business...more

Utah Tax Deadlines Continue to Automatically Follow Federal Guidance

Pursuant to Utah state statute, the individual income tax return filing deadline will continue to mirror the Federal deadline. According to Utah State Tax Commission (STC) Chair John Valentine, Utah thus automatically...more

Colorado Tax Payment Deadline Extended Due to COVID-19 Pandemic

Colorado Governor Jared Polis signed an executive order on March 20 extending the April 15, 2020 tax payment deadlines for all individuals and businesses to July 15, 2020....more

Georgia Extends Income Tax Deadlines to Align With IRS

The Georgia Department of Revenue (DOR) extended tax filing and payment deadlines for Georgia income taxes due on April 15, 2020, which makes Georgia another state to conform with the federal tax filing and payment...more

Virginia Extends Tax Payment Deadlines to June 1, Filing Date Remains Unchanged and Interest Will Accrue

Virginia Governor Ralph Northam announced that “while filing deadlines remain the same, the due date for payment of individual and corporate income tax will now be June 1, 2020.” However, the Virginia extension to pay, while...more

41 Results
 / 
View per page
Page: of 2

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide