No Update to Form 990-T in the Near Future

IRS Form 990-T, Exempt Organization Business Income Tax Return has existed essentially unchanged since it first appeared in 1951. In a report issued in ... read more >

The Centennial Anniversary of the Federal Estate Tax

September 8, 2016 will commemorate the one hundredth anniversary of the federal estate tax. Back in 1916, World War I was raging and America needed additional ... read more >

Governor Wolf's Latest Budget Proposal

UPDATE: On October 7th, Governor Wolf’s proposal was voted down 127-73 in the House of Representatives. New talks between the parties are expected ... read more >

IRS Issues Proposed Regulations on Transfer Taxes on Gifts and Bequests from Expatriates

On September 9, 2015, the Internal Revenue Service (the “IRS”) issued proposed regulations affecting taxpayers who received gifts and bequests ... read more >

Affordable Care Act - Controlled Groups

Beware of the Danger Zone By now, most everyone is aware that the Affordable Care Act (ACA) is starting to kick into high gear and that Applicable Large ... read more >

What You Need to Know About Affordable Care Act (ACA) Tax Reporting

Starting in calendar year 2015, companies with 50 or more full-time equivalent employees (FTEs), classified as Applicable Large Employers (ALE), will be ... read more >

Attention Educational Institutions: Penalties Will be Waived for Form 1098-T Filers

On Friday, August 28, 2015, the IRS announced that it will waive penalties assessed against any college, university, or other educational institution for ... read more >

Ninth Circuit Decision Raises the Home Mortgage Limit on Property That is Co-Owned by Unmarried Individuals

The Ninth Circuit Court of Appeals recently reversed a Tax Court decision (Voss v. Commissioner) and concluded, contrary to the Internal Revenue Service’s ... read more >

Solar Investment Tax Credit

Despite the lack of sunshine this summer, tax incentives remain for businesses that invest in qualifying solar energy property. The commercial solar investment ... read more >