Tax Resources for CPAs

COVID-19 Resources

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Educational Resources

New 2020 Stimulus Bill: Tax Provisions You Need to Know

Pennsylvania State and Local Tax

State

Pennsylvania Department of Revenue

Testimony Before the House Appropriations Committee

Daniel C. Hassell, Secretary, Pa. Department of Revenue, Feb. 16, 2021

As you know, for more than 90 years the Department of Revenue has been the commonwealth agency tasked with fairly, efficiently and accurately administering the tax laws and revenue programs of the Commonwealth of Pennsylvania.

Read testimony

Local

Pa. Local Income Tax Information
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.

Federal

Internal Revenue Service

Other Resources

AICPA State Reulatory and Legislative Affairs

Latest Blogs, Articles, and Podcasts

State & Local Tax

Complexities Abound for Pass-Through Entities and SALT Deduction Work-Arounds

The Tax Cuts and Jobs Act of 2017 (TCJA) reformed many aspects of the Internal Revenue Code of 1986, but the $10,000 state and local tax deduction limitation (SALT cap) has remained one of its more controversial aspects. The SALT cap prevents many individuals from being able to fully deduct their state and local income and property taxes on their federal individual income tax returns. This is further exacerbated for individuals filing in multiple states through their ownership interests in partnerships, S corporations, and certain limited liability companies.
Are Computer Services Subject to Sales Tax ... Again?

The Pennsylvania Department of Revenue (DOR) released two separate letter rulings during 2017 that provide guidance on the sales and use tax treatment of information retrieval services and support services related to computer software. The DOR concluded that both are subject to tax based on its interpretation of Act 84, the budgetary legislation enacted in July 2016. These rulings are concerning, since it is questionable whether DOR’s positions are consistent with the statute and the legislative intent of Pennsylvania lawmakers.

Federal Tax

U.S. Businesses Must Be Aware of VATs and What the Responsibilities Are for These Taxes

Value-added taxes, which have gained wide acceptance throughout the world, have many complexities for U.S. businesses that may be unfamiliar with this type of levy. Understanding key aspects of the tax can help to boost the bottom line and mitigate or eliminate potential liabilities.
IRC Section 1031 and Real Estate Like-Kind Exchanges

Owners of investment property are acutely aware of the double-edged sword that awaits a sale. The owners will finally be able to realize the benefit from years of hard work maintaining the appreciated property, but they also could face a substantial tax liability on the sale of the investment property. For taxpayers who wish to continue holding an investment rather than cashing out, Internal Revenue Code (IRC) Section 1031 provides a strategy that allows for tax deferral whereby the taxpayer exchanges the investment property for like-kind property. There have been some major changes to Section 1031 in recent years. Notably, the Tax Cuts and Jobs Act (TCJA) made only exchanges of real property eligible for Section 1031 exchanges, and the Treasury Regulations that were issued in November 2020 provide a revised definition of real property for purposes of Section 1031. However, understand that President Joe Biden’s tax plan, mentioned during the 2020 election, referenced eliminating tax breaks for real estate investors; thus, Section 1031 could be eliminated as a strategy in the future

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.

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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.

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CPA Now Blogs

N.J. Pot Legalization Will Affect Revenues of Neighboring States

In January 2021, a state constitutional amendment legalized marijuana in New Jersey. The next step is for New Jersey to release regulations on sales, including licensing and taxation. With the legalization of recreational marijuana in New Jersey, there is increased pressure on both Pennsylvania and New York to move toward legalization. If they don’t, New Jersey will corner the regional market.
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Philadelphia Taxation of COVID-19 Grants for Small Businesses

Numerous federal, state, and local relief programs have been enacted to help the economy recover from the impact of the COVID-19 pandemic, including grants to small businesses. Generally, COVID-19-related government grants to businesses are taxable income for federal tax purposes. What about for Philadelphia taxes?
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CPA Conversations Podcasts

Strategize Your Way to a Burnout-Free Tax Season

At the height of a busy tax season, it is understandable should a CPA experience feelings of burnout. Combine that pressure with a pandemic that has surpassed a full year, and it would be surprising if one did not go through some internal turmoil. To discuss ways for CPAs to prevent getting run down by their many responsibilities, we reached out to Loren Fogelman, price and profit coach at Business Success Solutions. For more information, feel free to check out Loren’s time management tips for busy firms.
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PPP and Employee Retention Credit Changes Upset Busy Season Protocol

Changes are coming fast and furious amid another hectic tax season. In this episode of CPA Conversations, we focus on two alterations that CPAs need to keep an eye on: the PPP loan calculation methodology and its effect on Schedule C taxpayers and the recently released IRS guidance on the employer retention credit. We discuss these matters with two representatives of Louis Plung & Company LLP in Pittsburgh: principal Kevin Wilkes, JD, and senior manager Tony Montanaro, CPA, ABV, CFE.
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