Statements of fact and opinion are the authors’ responsibility alone and do not imply an opinion on the part of PICPA officers or members. The information contained in herein does not constitute accounting, legal, or professional advice. For professional advice, please engage or consult a qualified professional.
Congress passed a sweeping tax, health care, and climate bill, which was signed by President Joe Biden on Aug. 16, 2022. Known as the Inflation Reduction Act of 2022, the legislation contains major tax provisions of particular interest to CPAs.
In a rapidly changing world, it is vital that students are well-versed in science, technology, engineering, and mathematics (STEM). CPAs are fighting hard to have accounting education included under the STEM umbrella. Why? First, accounting already is a profession that requires high aptitude in technology, and it will become even more so. More importantly, though, inclusion as a STEM discipline will go far in enhancing the pipeline of prospective accountants.
Seven days after the 2022-2023 fiscal year began on July 1, Gov. Tom Wolf and state lawmakers did finally adopt a $42.8 billion state General Fund appropriations bill. This year there was big news on the tax front: there will be a staged reduction in the Pennsylvania corporate net income (CNI) tax rate -- the state’s first CNI tax rate reduction in more than two decades.
The process of making legislation can get messy, and sometimes you might be better off not watching it. But to remove some of the mystery of surrounding lawmaking, this blog describes the process in Pennsylvania through which state tax laws are enacted or, in some cases, repealed.
The Pennsylvania elections -- both state and federal -- are receiving national attention this year, and the May 17 primary will determine which candidates will move forward as their parties' nominees for the November general election. This blog provides an overview of your primary election options, at both the state and federal levels.