Pennsylvania State Budget Approved for $32.7 Billion, No Severance Tax Included

On June 22, Pennsylvania Governor Tom Wolf signed into law a $32.7 billion state budget for fiscal year 2019. Noted as “bipartisan,” this is ... read more >

Pennsylvania Issues Guidance on Filing of Forms W-2 and 1099

To assist employers in complying with its new W-2/1099 filing requirements, the Pennsylvania Department of Revenue released the 2018 W-2 and 1099 Employer ... read more >

IRS Releases Guidance Regarding TCJA Higher Education Excise Tax on Net Investment Income

On June 8, 2018, the IRS released Notice 2018-55 (“Notice”) regarding the Tax Cuts and Jobs Act's 1.4% excise tax on the net investment ... read more >

Use Tax - To Report or To Collect and Remit: That is the Question

If the United States Supreme Court upholds the physical presence standard in its South Dakota v. Wayfair opinion, many remote sellers lacking the physical ... read more >

IRS releases guidance to taxpayers for changing accounting methods to conform to financial accounting revenue recognition standards

On May 10, 2018, the IRS released Revenue Procedure 2018-29 (hereinafter Rev. Proc. 2018-29) to provide new, automatic procedures for taxpayers changing ... read more >

Congressional Research Service Releases Tax Policy Options on College Endowments

Educational institution endowments have come under attack from all sides lately. Whether it is the new excise tax on net investment income, a Congressman ... read more >

Tariffs Pose Challenge to Construction Firms

Construction|Tax

By Dave Foutz

Earlier this year, there were New Tariffs Proposed on Steel and Aluminum by President Trump. The tariffs amount to 25% on steel and 10% on aluminum imports. ... read more >