Tax Reform Bill Includes Extension of Time to Repay Retirement Plan Loans

With sweeping tax reform going into full effect last month, many 401(k) participants are wondering how and if their plans will be affected. The answer ... read more >

Impact of Tax Reform on Professional Service Organizations

The Tax Cuts and Jobs Act (The Act) was signed into law on December 22nd and brings with it the most sweeping changes to the Tax Code in more than 30 years. ... read more >

Hardship Availability Due to Modification of Deduction for Personal Casualty Losses Under the Tax Cuts and Jobs Act

In general, the Internal Revenue Service’s hardship distribution regulations provide that a hardship distribution may only be made on account of ... read more >

Proposed Pa. House Bill Would Repeal Department of Revenue Disallowance of 100% Bonus

The recently enacted Tax Cuts and Jobs Act (“Act”) signed into law December 22, 2017 has brought significant changes to the federal tax system. ... read more >

ASU 2018-01 Lessens the Blow of Accounting for Land Easements Under New Lease Requirements

Back in February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), to increase ... read more >

Pennsylvania Nonprofit Alert: State Raises Audit Requirement Threshold

On December 22, 2017, Governor Tom Wolf signed two legislative measures that amend the Pennsylvania Solicitation of Funds for Charitable Purposes Act. ... read more >

Reminder: Foreign-owned U.S. Disregarded Entities Face New Reporting Requirements

Until recently, disregarded entities (DREs) were typically not required to obtain an employer identification number (EIN) and generally did not have federal ... read more >

Pa. Legislators Hope to Cut Permit Red Tape, Smooth Path for Drillers

The Pennsylvania Department of Environmental Protection (DEP) claims it will render a decision on a drilling permit for new well within 45 days of application. ... read more >