Tax Warrior Chronicles

June 15 Estimated Tax Due Dates Still Valid in Certain States

Posted on Tue, Jun 09, 2020

In response to the COVID-19 pandemic nearly every taxing authority (federal, state, and local) granted taxpayers an automatic extension of time to file and/or pay 2019 taxes.  This has made the 2020 tax season… interesting.  As we approach June 15, which is typically the date second quarter estimated tax payments are due for most taxing authorities, many are wondering if they need to act now, or if they have until July 15, 2020 to make these payments.  The answer, as it usually is in taxation is, it depends.

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Planning for Expiring KOZ Tax Exemptions

Posted on Tue, Aug 14, 2018

By: Clare Porreca, CPA, MT

 

Many businesses in Pennsylvania have benefitted from the Keystone Opportunity Zone Program(“KOZ”).  Some are set to expire soon.  They can be extended for an additional 10 years if certain job creation and capital investment requirements have been met.  If they are not extended, however, businesses previously exempt from many taxes will now be subject to them all.  For those businesses, careful planning is in order.

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