Effective July 1, 2010, employers located in Philadelphia and employers with Philadelphia resident employees will need to reduce the amount of withholding from their employees’ paychecks.
Philadelphia residents will see a drop in their wage tax rate from 3.9296% to 3.928% (that’s $0.016 per $1,000 earned) and non-residents’ rates will decrease from 3.4997% to 3.4985% (that’s [...]
Now that Congress has passed a landmark health care reform package, much work needs to be done in dealing with new requirements. While the end result of the legislative process is necessarily health care related, the tax law plays a major role in its implementation. From the tax credits and subsidies used to expand health [...]
The Pennsylvania and Philadelphia 2010 Tax Amnesty programs have commenced, giving taxpayers a unique opportunity to pay back taxes and file prior year returns. During each program, the Pennsylvania and Philadelphia will waive all penalties and half of the interest due on any delinquent tax liability as of June 30, 2009. Taxpayers participating in the [...]
A new job creation package, H.R. 2847 or the Hiring Incentives to Restore Employment (“HIRE”) Act, was signed into law by President Obama on March 18, 2010. Approved by the Senate on March 17th by a large margin following House passage, the emphasis of the Act is on encouraging employers to hire and retain workers [...]
As we advised in February, charitable contributions made through February 28, 2010 toward the Haiti disaster could be claimed as a 2009 charitable contribution deduction.
Because of the most recent disaster in Chile the House unanimously approved H.R. 4783 on March 10, 2010. This Bill will allow charitable contributions supporting both Chile and Haiti victims to [...]