Tax Resources for CPAs

Recent Updates

Inflation Reduction Act Brings Tax Changes to CPAs

Significant tax changes are a part of the new Inflation Reduction Act signed into law by President Biden on Aug. 16. Alex Fabian of PICPA's Government Relations team provides an overview of these changes in CPA Now, and stay tuned for more in-depth analysis in upcoming PICPA blogs and programs.

Previous Recordings

PICPA Legislative Update Webcast - Budget Passage & Tax Implications Recording - July 21, 2022
ASC 842 and More – What You Need to Know Now Webcast Recording - July 21, 2022
Philadelphia Department of Revenue: Offer in Compromise Program Overview Recording - May 3, 2022
12th Annual Q&A with Richard Furlong, IRS Senior Stakeholder Liaison, and Federal Tax Update Webcast Recording and Material Resources - Feb. 3, 2022
Philadelphia Department of Revenue: Policy Updates & Tax Center Overview Recording - Jan. 20, 2022

IRS Provides Details on Relief on Preparing Schedules K-2 and K-3

Feb. 16, 2022 – The IRS has provided further details on additional transition relief for certain domestic partnerships and S corporations preparing the new schedules K-2 and K-3 to further ease the change to these new schedules. Those eligible for the relief will not have to file the new schedules for tax year 2021. Read more.

Pa. Taxpayers Affected by Hurricane Ida Have More Time to File Tax Returns

Jan. 19, 2022 – The Department of Revenue is extending the due dates to file various individual and business tax returns for taxpayers in parts of Pennsylvania who were affected by Hurricane Ida. Importantly, taxpayers should know that this extension does not apply to tax payments. Read the update from the DOR.

Inflation Reduction Act CPE Essentials

Stay informed on the impact of new tax changes with webinars on the Inflation Reduction Act of 2022. Learn more about the bill and how it will affect CPAs.

Pennsylvania State and Local Tax

State

Pennsylvania Department of Revenue

Full Transcripts from PICPA's Q&A Sessions with the DOR
2022 Tax Deadlines
Pa. DOR Contact List - Dec. 14, 2021
Pa. DOR Schedule-A-Call Portal - Dec. 14, 2021
Pa. DOR Tax Professional Email Service - Nov. 30, 2021
Pa. DOR Update - Special Tax Forgiveness Credit Notice - Oct. 15, 2021
Tax Appeals
Tax Forms, Instructions, and Publications
Tax Laws, Policies, and Bulletins
Tax Seminars
State Tax Summaries
myPATH Pennsylvania Tax Hub: User Guide and Tutorial Videos
Revenue 411 Videos cover five major topics: Making Estimated Payments, Making Extension Payments, Making a Return Payment, Paying a Bill, and Responding to a Letter in myPATH - July 11, 2022
Guidance on Nonresident Withholding
Pa. PIT Guide

More Resources

AICPA State Regulatory and Legislative Affairs

Local

Phila. Tax Relief for Victims of Hurricane Ida for BIRT, NPT, and SIT - Jan. 20, 2022
Pennsylvania Department of Economic and Community Development
City of Philadelphia Revenue Department provides tax forms and instructions, information on technical rulings, and more.
City of Pittsburgh Department of Finance offers numerous downloadable forms and information.

Internal Revenue Service

IRS Expands Schedule K-2, K-3 FAQ - April 11, 2022
Taxpayer Experience Office Established to Improve Service - March 4, 2022
Help for Taxpayers and Tax Professionals: Special Filing Season Alerts - Feb. 14, 2022
IRS Continues to Work to Help Taxpayers; Suspends Mailing Letters - Feb. 9, 2022
IRS Updates 2021 Child Tax Credit and Advance Child Tax Credit FAQs - January 2022
IRS Tax Information for Tax Professionals
IRS Newsroom

Other States

Delaware Division of Revenue - Exemption of 2021 Unemployment Compensation from State Income Taxation

Latest Blogs, Articles, and Podcasts

State & Local Tax

State Income Tax Implications from Federal R&D Law

Effective for tax years beginning after Dec. 31, 2021, research and experimental (also known as research and development) expenditures are not fully tax deductible in the year incurred. Under the 2017 Tax Cuts and Jobs Act (TCJA), taxpayers who incur research and experimental (R&E) expenditures and expense these costs under generally accepted accounting principles (GAAP) are required to capitalize and amortize these expenditures.
Pennsylvania Local Tax Implications of Remote Work

Remote work arrangements are becoming increasingly commonplace. What began as a COVID-19 necessity has come to be seen as an employee benefit. However, widespread remote work could expose businesses to additional tax risks and filing obligations.

Federal Tax

New Regs to Counter Foreign DST Credit May Kill Other Foreign Tax Credits

Prior to the end of 2021, the U.S. Treasury Department issued final foreign tax credit regulations under Treasury Regulation Section 1.901-2,1 dramatically modifying the analysis for determining whether a foreign levy is a creditable foreign tax. The regulations apply to tax years beginning after Dec. 28, 2021, and finalize proposed regulations issued in November 2020.
Tax Pitfalls Associated with Closely Held Businesses

Most tax practitioners are familiar with the fundamentals of structuring closely held businesses, but important structuring considerations are sometimes overlooked. This column highlights some pitfalls that might not always come to the attention of practitioners structuring business arrangements.

Tax Season Featured Member Benefits

Wolters Kluwer CCH TaxAware Center - Answers to All Federal and State Tax Questions in One Place

Free PICPA member benefit
($2,385 value)

TaxAware is a “one-stop shop” online resource with 24/7 access and customizable searches and preferences. Get updates daily, weekly, or monthly with just the top headlines or in-depth, expert analysis on the latest changes impacting professionals and their clients.

Access Now

Capstan - Tax Saving Opportunities for Tangible Property and Other Fixed Assets

In the face of growing tax code complexity, it's almost impossible to cover every area with in-house resources. For expertise in understanding and applying the myriad of complexities with the Tangible Property regulations and other IRS Code impacting commercial real estate, turn to Capstan Tax Stategies.

Visit Company

CPA Now Blogs

The Inflation Reduction Act of 2022 and the Corporate Alternative Minimum Tax

The new Inflation Reduction Act is a large and complex piece of legislation that contains numerous tax components. This blog takes a deep look at the 15% Corporate Alternate Minimum Tax (CAMT) and several elements that deserve close scrutiny.
Full story
Sales Tax and the True Object Test

Sales and use tax can be a complicated area of taxation. One of the challenges tax practitioners often confront is determining the taxability of a transaction when the sale includes both a product and a service. This is where the “true object” test comes into play.
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CPA Conversations Podcasts

CPAs Have a Vital Role in Keeping Small-Business Clients Compliant

Matthew May, founder and vice president of sales and marketing for Acuity CFO Online Bookkeeping Accounting and Business Tax, joins us to talk small-business compliance with standards and regulations. In particular, May stresses the role CPAs can play in making the process easier.
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Benefit Clients by Upgrading Your R&D Credit Knowledge

The research and development (R&D) tax credit is available to many organizations to help reduce their tax liability and overall financial expenditures. Unfortunately, many organizations don’t know everything they need to know to fully take advantage of the credit. To help educate these organizations, as well as the CPAs who represent them, we spoke with Ashley Chikes, director of operations for R&D experts EPSA USA, about steps CPAs can take when advising a client about the R&D credit, the ins and outs of the Pennsylvania R&D credit, and more.
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