The Tax Cuts and Jobs Act of 2017 increased the basic exclusion amount (BEA) for estate and gift tax purposes from $5,000,000 to $10,000,000 which, after allowing for inflation adjustments, [...]
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 A little-known planning technique may provide assistance to individuals with disabilities (the onset of disability must have occurred before turning age 26). In 2018, total contributions up to [...]
Last year the Pennsylvania legislature enacted House Bill 542 which changed Pennsylvania state sales tax law requirements for out-of-state vendors selling into the Commonwealth. The bill revised [...]
The House Ways and Means Committee is considering retirement plan changes. Retirement issues aren’t unpopular with the Democratic minority in the Senate. The retirement provisions can be [...]
The IRS has warned taxpayers against state sponsored funds some states have designed to circumvent the new $10,000 limitation on deductions for state and local taxes (Notice 2018-54). States have [...]
The U.S. Treasury Department (under whom the Internal Revenue Service (“IRS”) works) just issued proposed regulations to explain and govern complicated application of the exciting 20% [...]
Both the House of Representatives and the U.S. Senate are working on a tax bill which, among other changes, aims to protect taxpayers from identity theft and the tax fraud that can follow. If the [...]
Recently the IRS Office of Chief Counsel advised that taxpayers with a record of prompt filing of returns and prompt payment of (or prompt arrangement to pay) their federal income taxes for at [...]
One issue that is overlooked by some employers is whether a company severance plan is subject to ERISA. Determination of whether a plan is subject to ERISA is necessary for avoiding costs of [...]
On June 21, 2018, the United States Supreme Court decided in South Dakota v. Wayfair, Inc. that South Dakota is permitted to collect sales tax from online retailers who sell in the state and have [...]
