IRS Finalizes Safe Harbor Allowing Rental Real Estate to Qualify as a Business

The Internal Revenue Service issued Revenue Procedure 2019-38 that has a safe harbor allowing certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade…

The Treasury Department and the Internal Revenue Service released final regulations (PDF) and additional proposed regulations (PDF) under section 168(k) of the Internal Revenue Code on the new 100% additional…

The Equal Employment Opportunity Commission (EEOC) recently reinstated the requirement to collect two years of pay data for 2017 and 2018 and that covered employers would be required to file this information…

The Internal Revenue Service is automatically waiving the estimated tax penalty for the more than 400,000 eligible taxpayers who already filed their 2018 federal income tax returns but did not claim the…

A law offering relief to some New Jersey Shore homeowners and renters affected by a new tax on short-term rentals is poised to become law, after the Assembly passed a bill and sent it to Gov. Phil Murphy…

On July 1, 2019 Uber Eats was to begin calculating, collecting and remitting sales tax on behalf of restaurants in 14 States (including PA) and the District of Columbia, but the company has released a…

The Internal Revenue Service has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions…

Effective Monday July 1st,the NJ minimum wage increases. The increased rate/wage needs to start being paid for hours that have been worked from July 1st forward. Seasonal and Small Employers (fewer than…

The City of Philadelphia on July 1, 2019 is reducing its Wage Tax rate. The rate decrease has an immediate impact on all businesses that operate in the city, or that employ Philadelphia residents. The…

As part of its ongoing efforts to protect taxpayers from identity thieves, the Internal Revenue Service announced it will stop its tax transcript faxing service in June and will amend the Form 4506 series…