Personal Finance

Selling your home at a high price can be lucrative, but it may also come with tax implications. The IRS might require you to pay capital gains taxes on the profit you earn from the sale. Here’s a detailed…

In a unanimous decision issued on June 6, 2024, Justice Thomas ruled in favor of the Internal Revenue Service (IRS) on Estate of Connelly v. United States. The ruling held that life insurance proceeds…

The Internal Revenue Service issued a consumer alert following ongoing concerns about a series of tax scams and inaccurate social media advice that led thousands of taxpayers to file inflated refund claims…

The Internal Revenue Service (IRS) has adjusted the Health Savings Account (HSA) amounts for 2025. Here are the key changes: Individual Coverage: Family Coverage: The $1,000 “catch-up” additional contribution…

With millions of tax refunds going out each week, the Internal Revenue Service shared that recent improvements to Where’s My Refund? on IRS.gov remains the best way to check the status of a refund. The…

Last year, the Child and Dependent Care Enhancement Tax Credit delivered critical relief to roughly 210,000 families in Pennsylvania. Research has shown that a similar tax credit on the federal level…

Philadelphia has updated its guidelines for non-resident Wage Tax refunds which apply to tax years 2023 and beyond. The Wage Tax applies to all earnings made in Philadelphia, including salaries, wages…

On January 19, 2024, the House Ways and Means Committee overwhelmingly approved the Tax Relief for American Families and Workers Act of 2024 by a 40-3 vote. The bill provides for increases in the child…

The Internal Revenue Service reminds taxpayers who pay estimated taxes that they have until January 16th to make their payment for the 4th quarter of tax year 2023 without penalty. Who needs to make a…

The Internal Revenue Service announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024, including the tax rate schedules and other tax changes. New for 2024 The tax year…