A new version of a federal withholding form could significantly impact employee income tax calculations and employer payroll systems. In early June, the IRS issued a draft of its revised…
Nonprofits: Lessen the Impact of New Executive Compensation Excise Tax with These 3 Tactics
Editor’s note: On January 12, 2021, the IRS released final regulations for Internal Revenue Code Sec. 4960, which provided certain nonprofit organizations with more clarity around the 21 percent excise…
What the South Dakota v. Wayfair Ruling Means for the Future of Sales and Use Tax
For many years, states have known that sales and use tax revenue rightfully owed to them was just beyond their grasp. Close to $13.4 billion in sales and use tax…
Update on PA’s New 1099-MISC Non-Resident Withholding Requirement
Pennsylvania companies have been grappling with the application of the state’s new rules for non-resident 1099-MISC withholding. Starting with the 2018 tax year, PA-based organizations that make payments totaling more…
How Tax Reform Helps Builders, Developers Extract More Savings from Asset Purchases
Buying equipment or machinery is now twice as lucrative for the construction and real estate development industries, thanks to tax reform provisions related to fixed asset planning. Enhancements to two…
