CPA Now Blog

  • New Pa. Rules for Tipped Workers Explained

    Aug 19, 2022
    For the first time in 44 years, Pennsylvania has updated the rules affecting tipped workers and salaried workers who have fluctuating work-week schedules. This blog from the Pennsylvania Department of Labor & Industry clarifies some of the key changes in the definition of tipped employees as well as some of the modified regulations in this area.
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  • Key Tax Changes Included in Inflation Reduction Act

    Aug 16, 2022
    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.
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  • Accounting as Part of STEM: A Critical Pipeline Need

    Aug 11, 2022
    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.
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  • Tax Reduction Home Run a Highlight of Pa.’s 2022-2023 Budget

    Jul 13, 2022
    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.
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  • Making State Tax Legislation Isn’t Always Pretty

    May 18, 2022
    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lawmaking, this blog describes the process in Pennsylvania through which state tax laws are enacted or, in some cases, repealed.
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  • With Spotlight on Pennsylvania, Know Your Candidates: A Primary Guide

    Apr 27, 2022
    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.
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  • Tax Rules on Rentals: A Look at the Pa. DOR’s Equipment Rental SUT Bulletin

    Apr 18, 2022
    Sales and Use Tax Bulletin 2021-05 covers the taxation of equipment rental and equipment rental with operators. The bulletin restates the presumption that when a vendor provides the use of equipment with an operator, the transaction is a rental of equipment. As such, the charge is subject to Pennsylvania sales and use tax. This is very important to vendors of equipment rentals and services involving the use of equipment who should review their contracts to verify that the sales and use tax treatment is consistent with Pennsylvania regulations.
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  • PICPA Advances Pass-Through Entity Tax Reform Initiative

    Apr 8, 2022
    With both the political and economic environments seemingly ripe for such a discussion, the Pennsylvania General Assembly appears poised to address a variety of tax law changes. One that could appear on the legislative agenda is PICPA’s effort to address the growing inequity in state and local taxation via an elective pass-through entity tax.
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  • “Spear Phishing” Attacks on Tax Practitioners Rise: IRS Offers Help

    Mar 29, 2022
    Recent spear phishing emails are masquerading as messages from the IRS tax return preparation software. To help practitioners identify and address spear phishing threats, the IRS Stakeholder Liaison is conducting two briefings the week of March 28 to show tax professionals what some of the most recent scam emails look like.
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  • Keystone Saves Plan Offers Broad-Based Retirement Savings throughout Pa.

    Feb 23, 2022
    Approximately 44% of Pennsylvanians (about 2.1 million residents) have no access to an employer-sponsored retirement plan. Legislation now in the Pennsylvania House Commerce Committee would establish the Keystone Saves Program. Through the program, the state would embark on an auto-enrollment payroll deduction IRA.
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  • Low Profile, High Impact: Electing Pa. Judges More Vital Than You Think

    Oct 13, 2021
    This Nov. 2, Pennsylvania voters will go to the polls to elect several judges. It’s no secret that these municipal election years tend to lack the luster of other years, but don’t fall into that sense of complacency. The decisions made during these elections will have resounding public policy impacts for years to come.
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  • Collaboration Key to Pa. and N.J. Cross-State Tax Matters

    Aug 19, 2021
    The PICPA State Tax Steering Committee and their colleagues at the New Jersey Society of Certified Public Accountants recently met to tighten the connections between the two organizations and to work collaboratively to uncover and resolve potential cross-state tax issues.
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  • Pa. Budget Passes General Assembly with Relative Ease

    Jul 1, 2021
    This year, we experienced a political unicorn in Harrisburg. Not only were the 2021-2022 state budget negotiations relatively painless, but also everything was voted on in an expedient fashion and the budget was wrapped well before the start of the new fiscal year on July 1. Adding to the overall ease of the process – and probably another political unicorn – was the state’s revenue surplus and unused funds received from the federal government for COVID relief.
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  • More than Municipal Primaries: The Constitution and Courts on the Ballot

    May 6, 2021
    Much of politics is local, to paraphrase former U.S. Speaker of House Thomas P. O’Neill, and Pennsylvania voters in May 2021 will determine who will vie for positions in the county courthouse, townships, boroughs, and school boards. This year’s primary election, however, has added significance with proposed amendments to the state constitution.
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  • Understanding PICPA Advocacy – Money, Elections, and the CPA-PAC

    Apr 30, 2021
    Political action committees get a lot of bad press. A quick google search brings up terms like “dark money” and “slush fund,” but this could not be further from the truth. The Certified Public Accountants Political Action Committee, for example, specifically supports the mission of the PICPA by helping to elect bipartisan, respectable candidates who support strong fiscal policy and other positions favorable to CPAs.
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  • PICPA Scores Three-in-One Legislative Victory

    Apr 22, 2021
    It is rare when the stars align in Harrisburg, but when they do it is an impressive process to watch unfold. The PICPA was a key contributor to just such an occurrence when the state House and Senate lawmakers agreed to expedite legislation championed by the PICPA that addresses three problematic tax issues. A victory for the public, a victory for CPAs, and a victory for PICPA!
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  • New Report Provides Insights on Occupational Licensing

    Apr 9, 2021
    The deregulation of certain licensing requirements has been a concern for the CPA profession. While the main focus of these efforts has not been on licensees such as CPAs, engineers, doctors, and lawyers, there is always a risk of collateral damage with the legislative process.
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  • CPAs Offer Financial Policy Options to Pennsylvania Lawmakers

    Mar 11, 2021
    CPAs have extensive experience helping clients meet their fiscal challenges head-on and directing them toward success. Pennsylvania, too, faces fiscal challenge, and the PICPA's Fiscal Responsibility Task Force has developed a report to assist those in governance find a sound financial footing for the state's financial health.
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  • Forgiven PPP Loans Now Exempt from Pa. Personal Income Tax

    Feb 9, 2021
    The strength of PICPA's 20,000 members was on display recently in Harrisburg as the PICPA scored a major legislative victory in ensuring that forgiven Paycheck Protection Program loans would be exempt from state personal income tax.
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  • CPAs: Start Preparing Now for PPP 2

    Dec 11, 2020
    Legislation on additional pandemic relief, including a new Paycheck Protection Program, is expected to pass the U.S. Congress before the end of 2020. CPAs are strongly encouraged to identify business clients who may qualify for these benefits, and to begin contacting them about the loan application process. This new effort should also address the long-simmering issue of tax deductibility of expenses related to forgiven Paycheck Protection Program loans.
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PICPA Staff Contributors

Disclaimer

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.

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