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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: , , , , , , , , , |

Big refund or money due at tax time? Try the IRS withholding estimator

The IRS is providing more and more tools for the taxpayers to access their information online, calculate Child tax credit, or estimate their w2 withholdings (employees). The withholding estimator is a series of questions (it is a long process as it is really detailed), but it might help you estimate your w2 withholdings better. If

By |2021-07-13T18:41:52+00:00July 19th, 2021|Categories: Individuals|Tags: , , , , , |

How to check the status of your federal tax return

Taxpayers can access the Where's My Refund? tool two ways: Visiting IRS.gov  - https://www.irs.gov/refunds Downloading the IRS2Go app To use the tool, taxpayers will need: Their Social Security number or Individual Taxpayer Identification number Tax filing status The exact amount of the refund claimed on their tax return The tool displays progress in three phases: Return

By |2021-05-19T21:23:11+00:00May 19th, 2021|Categories: Individuals|Tags: , , , , , |

IRS to recalculate taxes on 2020 unemployment and issue refunds

For those taxpayers that filed their taxes before the $10,200 unemployment exclusion was approved in the middle of the 2020 tax season, the IRS will automatically recalculate the Federal taxes and plans to start issuing refunds in May 2021. From the official IRS guidance, we can read:  "... This law change occurred after some people filed

By |2021-04-19T01:49:43+00:00April 9th, 2021|Categories: Individuals|Tags: , , |

IRS has refunds totaling $1.3 billion for people who have not filed a 2017 federal income tax return

In the IRS Issue number IR-2021-75, the IRS indicates that there is $1.3 billion of refunds that have not been claimed by the taxpayers in 2017. Keep in mind, that the law provides a three-year window to claim a refund. Normally, April 15, 2021, is the deadline to claim a refund from tax year 2017

By |2021-04-08T17:09:01+00:00April 7th, 2021|Categories: Individuals|Tags: , , , , |

IRS to recalculate taxes on unemployment benefits; refunds to start in May

As you might now around March 2021, the IRS approved the $10,200 income exclusion for unemployment benefits. The IRS notice IR-2021-71 mentioned that there is no need to file an amended return and that the IRS will recalculate taxes on unemployment benefits. The IRS expects that the refunds will start in May, 2021 for those

By |2021-04-02T18:10:54+00:00April 2nd, 2021|Categories: Individuals|Tags: , , , |

Restaurants in Philadelphia – Emergency Use and Occupancy

The Use and Occupancy tax for restaurants will be based on the occupancy allowed by Philadelphia Department of Public Health. This is in line with the previous post published on our site to pay the proportionate taxes and how to request a refund.   Emergency Use & Occupancy Tax Regulation: Yesterday, February 18, the Department

By |2021-02-23T21:33:38+00:00February 19th, 2021|Categories: Business|Tags: , , , , , , , |
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