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Pennsylvania and Philadelphia Tax Updates: Considerations for Post-COVID Remote Work

Summary - Businesses with employees in Pennsylvania and Philadelphia should be prepared to adapt to a post-COVID world as temporary guidance regarding remote work expires and pre-COVID rules regarding employment tax...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

ARP: Tax Provisions

ARP Tax Changes Include Credit Extensions/Expansions, Tax Relief for EIDL and Grant Recipients, and Changes to Worldwide Interest Allocation Rules - Among many other provisions, the American Rescue Plan (ARP), the $1.9...more

Stimulus Bill Resolves PPP Loan Deductibilty, Enhances Employee Retention Credits, Provides Other Tax Relief

Included as part of the Stimulus Bill (the Bill) are the COVID-Related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax Relief Act of 2020. For a discussion of other aspects of the Bill, see our...more

IRS Confirms Taxpayers Cannot Deduct Expenses Paid With PPP Loans If Forgiveness Is Reasonably Expected

In Revenue Ruling 2020-27, the IRS announced that taxpayers cannot deduct expenses paid for with the proceeds of a Paycheck Protection Program (PPP) loan that is forgiven, even if the PPP loan forgiveness occurs in a later...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

Trump Signs Memoranda and Executive Order: Enhanced Unemployment Benefits, Deferred Payroll Taxes, Student Loan Relief, and Halted...

On August 8, 2020, President Trump signed four documents—three Presidential Memoranda and one Executive Order—aimed at directing further COVID-19 relief. Two of the memoranda related to unemployment assistance and deferred...more

CARES Act Payroll Tax Deferral – Revised Form 941 Includes Helpful Guidance for Employers

The IRS released a final version of Form 941 (the employment tax return to be used by employers for the second quarter for 2020) and a revised set of accompanying Instructions. The Form and particularly the Instructions...more

IRS Issues Guidance Allowing Employer-Sponsored Leave Donation Programs for COVID-19 Relief

The Internal Revenue Service (IRS) issued Notice 2020-46 providing guidance to employers whose employees forgo sick, vacation, or personal leave to aid victims of COVID-19....more

UPDATED: CARES Act Employee Retention Credits—IRS Updates FAQs With New Guidance for Employers and Employees

The IRS updated the FAQs on its website, providing guidance regarding who is eligible to claim an employer retention credit (ERC) added by the CARES Act, how the ERC is calculated and interact with other provisions, and other...more

Expenses Paid With Proceeds of Forgiven PPP Loans Are Not Deductible

The IRS issued Notice 2020-32 explaining that otherwise deductible business expenses paid for with the proceeds of a forgiven PPP loan are not deductible for federal income tax purposes. This means that when a taxpayer pays...more

Pennsylvania Employers May Be on the Hook for Additional Unemployment Compensation Taxes

A recent opinion from the Pennsylvania Supreme Court clarifies the definition of employment under the state’s Unemployment Compensation Law, potentially increasing the amount of Unemployment Compensation Tax (UC Tax) that...more

Guidance Released for Taxpayers Claiming Net Operating Losses Under CARES Act

Treasury and the IRS released Rev. Proc. 2020-24 (available here), providing guidance related to amendments in the CARES Act (Pub. L. No. 116-136) to the net operating loss (NOL) provisions of the Code to allow for the...more

Pennsylvania Extends Sales Tax Prepayment Relief

The Pennsylvania Department of Revenue (the Department) announced that it will further suspend the requirement for businesses that collect and remit Pennsylvania sales tax to make payments of Accelerated Sales Tax (AST)...more

Remote Work During COVID-19 Crisis Raises State Tax Nexus Issues for Employers

With many employees forced to work from home due to business and office closures, among myriad other concerns, employers may be forced to confront state tax issues, particularly when employees work in states or local...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 16, 2020 in states where our offices are located and in selected other states....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

CARES Act Includes Tax Rebates, Changes to Tax Cuts and Jobs Act, and Several Other Tax-Related Provisions

The Coronavirus Aid, Relief, and Economic Security Act (H.R. 748; the CARES Act) includes several tax-related provisions, including tax rebates, modifications to the Tax Cuts and Jobs Act (TCJA), hiring and paid leave...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

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