Pennsylvania and Federal Extension Deadlines for Fiduciary and Partnership Returns are Unified
In the past year, the Pennsylvania Department of Revenue and the Internal Revenue Service have not been on the same page with respect to the time granted pursuant to an application for an extension. While individual and corporate filers have consistently been granted an automatic six (6) month extension upon application, fiduciary and partnership filers had to mark another date on their calendars.
Effective Immediately - Employers With Cafeteria Plans Can Allow Employees To Make Pre-tax Contributions for Adult Children
According to an IRS news release, as a result of changes made by the recently enacted Affordable Care Act, health coverage provided for an employee's children under 27 years of age is now generally tax-free to the employee, effective March 30, 2010.
The Tax Code May Catch Up with Technology - 21 Years Later
On April 14, 2010, The U.S. House of Representatives passed H.R. 4994 (The Taxpayer Assistance Act of 2010). Included in the legislation is a provision that would eliminate the strict substantiation rules that are currently in place for employer-provided cell phones and similar devices. Martin DiGiovine explains what this could mean.
Treasury Announces Electronic Requirements for Payroll Taxes
The U.S. Department of Treasury announced on April 19, 2010 that it will be eliminating Form 8109, Federal Tax Deposit coupons, paper checks for government benefits, and paper option for payroll deduction for U.S. Saving bonds starting in 2011. What does that mean? Barb Balcita explains.