We provide here a written summary of answers provided by the Department of Revenue to the committee at periodic question and answer sessions. These documents are classified as Revenue information issued for informational purposes only for the convenience of PICPA members. Pursuant to 61 Pa. Code Section 3.4, these documents should not be relied upon for any purpose or used in tax appeals. Taxpayers requiring a binding opinion on a specific fact situation may request a written letter ruling under 61 Pa. Code Section 3.3.
Q&A with the Pennsylvania Department of Revenue
Does the Department plan to release guidance on the addback of intangible and interest expenses and costs, and exceptions thereto, as enacted by Act 52? If so, when and in what format?
Yes, the Department will be issuing an informational notice relating to the add-back statute which will address the addback of intangible and interest expenses and costs.