Pennsylvania Education Tax Credits and COVID-19

Coronavirus, Higher Education, State and Local Tax, Tax, Tax Impact
by Matthew Dodge
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The contribution deadline for Pennsylvania’s popular Educational Improvement Tax Credit (EITC) program has been extended due to the COVID-19 pandemic. Under normal circumstances, businesses are required to make their contributions within 60 days of approval of their application by the state. Pennsylvania has extended that deadline until the end of the business entity’s tax year. In addition, Pennsylvania will not reduce tax credits if a business participating in the EITC does not contribute their full second-year commitment. Businesses will still receive 90% of the amount they contribute in year two, and year one credits will not be reduced. The administrative changes to EITC contributions will apply to all tax years impacted by the COVID-19 disaster emergency.

Please visit our Coronavirus Resource Center for related content.

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SECURE 2.0 Act – Section 604. Optional Treatment of Employer Matching or Non-elective Contributions as Roth Contributions.
401(k) Plans, ERISA, SECURE Act 2, Tax
By Catherine Martz | 1.31.2023

Learn more about Section 604. Optional Treatment of Employer Matching or Non-elective Contributions as Roth Contributions of the SECURE 2.0 Act. ...

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