Last week the United States Court of Appeals for the Fifth Circuit entered an important conservation easement decision reversing the decision of the Tax Court and remanding the case to decide certain issues. The conservation...more
The Pennsylvania Tax Amnesty Program begins on April 21, 2017, and continues through June 19, 2017. The amnesty period is open for 60 days.
During the amnesty period, any taxpayer with existing tax liabilities owing to...more
On December 8, 2016, the Philadelphia City Council approved a bill intended to close various perceived loopholes used by owners of commercial real estate to minimize or avoid the City’s realty transfer tax. Mayor Kenney is...more
The Pennsylvania Department of Revenue (the Department) has just released details of the tax amnesty authorized by the 2016-2017 Budget passed in July 2016. The tax amnesty is a tremendous opportunity for taxpayers who owe...more
On Thursday, June 16, 2016, the Philadelphia City Council passed Bill No. 16017601, known colloquially as the “Soda Tax.” This ordinance imposes a tax of 1.5 cents per ounce on any sugar- or artificially-sweetened beverage...more
Philadelphia Mayor Jim Kenney recently announced a significant expansion of the University City Keystone Innovation Zone which is intended to attract new businesses into Center City Philadelphia. Now may be the time to...more
New FATCA requirements that apply to U.S. and non-U.S. insurance brokers and insurance companies will take effect on January 1, 2015. Those requirements impose new information gathering and reporting rules when U.S. insurance...more