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2021 Required notification to employees for Philadelphia businesses

On an email reminder sent last week, the City of Philadelphia requires businesses to give notifications to their employees about a) The Federal Earned Income Tax Credit (EITC) and b) Philadelphia Wage Tax Refund Program on electronic or printed copy and no later than February 1, 2022. The Federal Earned Income Tax Credit (EITC) The

By |2022-01-15T21:51:29+00:00January 15th, 2022|Categories: Business|Tags: , , , , , , , , , |

Some major companies paid zero Federal taxes versus small businesses

In April 2021, there was a report from Fortune media listing some of the companies that paid zero in their 2020 tax return. There are different options on the tax code allowing those companies to avoid paying taxes, such as international transactions, real estate investments, research and development, etc. Note that even if the federal

By |2021-05-19T19:30:16+00:00May 19th, 2021|Categories: Business|Tags: , , , , , , , |

Executive Order for the extension of federal unemployment benefits ($400 per week)

On Saturday, President Trump signed an executive order aimed at partially extending the $600 per week federal unemployment benefits that expired in July as part of the CARES Act. The Federal unemployment will be $400, which is funded from the nation's Disaster Relief Fund (44 billions). The executive order also established that 75% will be covered

By |2021-01-05T10:56:20+00:00August 11th, 2020|Categories: Individuals|Tags: , , , , |

Tax Extensions – Federal, State and Local

In this period of uncertainty and chaos, we strongly believe that informed individuals take better decisions. These are some updates available as of 3/21/2020. For any additional questions, please, reach out to our office. Federal IRS extends the filing tax deadline and payment to July 15, 2020 (90 days) https://www.irs.gov/coronavirus Payment Plan IRS - There

By |2021-01-05T12:02:11+00:00March 22nd, 2020|Categories: Individuals|Tags: , , , |
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