Tax Reform 2.0 on the Way?

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As reported in a previous post, the House Ways and Means Committee released three tax bills, referred to as “Tax Reform 2.0,” in late August. All three bills were approved by the House at the end of September. The passage of these bills is the next step toward making additional substantial changes to the already […]

Budget Act Signed Into Law by President Trump

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On February 9, 2018, President Trump signed the Bipartisan Budget Act (H.R. 1892). The bill’s passage came after a short government shutdown had taken place on Thursday evening and into Friday morning.  Unfortunately, the budget sets another short-term date (March 23), through which the government will continue to operate, leaving the potential, again, for yet […]

President Signs Tax Reform Bill

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After a grueling legislative process, the House and Senate passed the tax measure into law earlier this week and it has now been officially signed by President Trump. For more information, read our latest Tax Alert which covers the details of the plan. If you have questions or comments, please contact Bob Grossman or Don […]

senate hearing, ESOP tax benefit, S corporations, GYF, Grossman Yanak & Ford LLP, Pittsburgh, CPAs

Recent Senate Hearing Reinforces Interest in Extending ESOP Tax Benefit to S Corporations

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The Senate Finance Committee in Congress held a recent hearing at the 215 Dirksen Senate Office Building titled: “Helping Americans Prepare for Retirement: Increasing Access, Participation and Coverage in Retirement Savings Plans.” Appearing as witnesses at the hearing were: Dr. Alicia Munnell Peter F. Drucker Professor of Management Science, Director Boston College Carroll School of […]

Proposed Legislation Could Affect Taxes in PA

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Legislation that proposes to reduce school property taxes in every district in Pennsylvania was passed by a 105-86 vote by the Pennsylvania House of Representatives on May 13, 2015. House Bill (HB) 504, which is similar to Governor Tom Wolf’s budget that was proposed in March, would increase the current 6% sales and use tax […]