Personal Finance

In late December 2022, the Internal Revenue Service announced a delay in reporting thresholds for third-party settlement organizations (TPSOs). As a result of the delay, the existing 1099-K reporting threshold…

Eligible Pennsylvanians can claim the Child and Dependent Care Enhancement Tax Credit when they file their Pennsylvania Personal Income Tax Return (PA-40). This credit can range between $180 and $630,…

The SECURE 2.0 Act offers incentives for employers, especially small to mid-size employers without a current retirement plan in place, to establish and maintain retirement plans. From expanding coverage…

The Federal Earned Income Tax Credit (EITC) The City of Philadelphia wants every qualifying Philadelphian to receive the federal Earned Income Tax Credit (EITC). This federal credit is for low-to-moderate-income…

The IRS announced the 2023 inflation-adjusted dollar-amount ceilings and thresholds for a wide range of qualified retirement plans and accounts, including traditional individual retirement arrangements…

Earlier this month, the Internal Revenue Service (IRS) released a memorandum (CCA 202302012) concluding that a qualified appraisal is required when a taxpayer claims a charitable contribution deduction…

TaxCaddy is a software program designed to make gathering tax documents and sharing them with your tax professional a breeze. But why take our word for it? Here are the top 5 reasons YOU should be using…

The Internal Revenue Service reminds taxpayers who pay estimated taxes that they have until January 17th to make their payment for the fourth quarter of tax year 2022 without penalty. You may send estimated…

Delays by the IRS and State Revenue Departments in processing checks from taxpayers for the payment of income taxes is increasing.  Delays in the processing of checks can cause automated tax notices requesting…

The IRS has extended tax relief to the victims of Hurricane Ian throughout Florida until February 15, 2023, to file various individual and business tax returns and make tax payments. Individuals and households…