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Pennsylvania taxpayers filing their 2023 individual returns can take advantage of the Child and Dependent Care Enhancement Tax Credit for years after December 31, 2022. The expanded credit, enacted at
The Tax Cuts & Jobs Act of 2017 (TCJA) provided for increased gift and estate tax exclusion amounts from 2018 through 2025, more than doubling the prior lifetime exclusion per
With the biggest sporting event of the year just around the corner, and with sports betting being one of the largest growing industries, the tax implications of gambling is a
The tax code can be complex, but for savvy investors, there are opportunities to optimize returns while contributing to community development. One such avenue is Qualified Opportunity Zones (QOZs), through
In a recent post, we reported the announcement of the Tax Relief for American Families and Workers Act of 2024, a bipartisan effort proposed by the House Ways and Means
Selling a business requires many important decisions, including how to structure the sale. One of the most crucial decisions when it comes to selling or acquiring a business is choosing
On January 16, 2024, the House Ways and Means Committee and Senate Finance Committee announced the Tax Relief for American Families and Workers Act of 2024. This bipartisan deal was
On January 10, 2024 the U.S Department of Labor (DOL) issued a final ruling, Employee or Independent Contractor Classification under the Fair Labor Standards Act, to provide guidance on whether
As the deadline approaches for filing informational tax returns, it is important to consider the updated filing requirements for these returns. The electronic filing threshold, which was previously 250 informational
The Inflation Reduction Act, effective August 16, 2022, included legislation that increases IRS funding by roughly $80 billion over the next 10 years. Nearly $46 billion (69%) of the additional
A recent blog post provided an update on the development of IRS initiatives to help businesses that were victims of aggressive Employee Retention Credit (ERC) promoters misrepresenting ERC eligibility. In
In our recent blog post, we provided an overview of controversial changes related to the timing of claiming research tax credits under IRC Section 174. This article reviews the new
