If you are a business that has employees or independent contractors who live in Philadelphia, the City of Philadelphia imposes notice requirements.
Beginning January 1, 2015, Title 19, Chapter 19-4000, of the Philadelphia Code, entitled “Income Inequality Initiative – Earned Income Tax Credit,” requires all employers to provide notice of the federal Earned Income Tax Credit (“EITC”) program to all Philadelphia resident employees and non-payroll workers at the same time as their W-2, 1099, or comparable forms are provided.
This new law applies to not only companies in Philadelphia but to those entities not located in Philadelphia that employ or pay residents of the City of Philadelphia.
The Earned Income Tax Credit (“EITC”) is a refundable credit available to low to moderate income individuals and families. Over 40,000 Philadelphia residents are not claiming EITC, which has an average benefit of $2,400 per return. The goal of this law change is to help help more of its citizens take advantage of this tax break and ultimately infusing an extra $100 million into the Philadelphia economy.
Under Title 19, Chapter 19-4000 of the Philadelphia Code, an employer must do the following:
(A) The employer must give the employee or non-payroll worker the “2014 Earned Income Tax Credit (‘EITC’) Notice,” at the same time it provides a W-2, 1099, or comparable form
(B) If a W-2, 1099, or comparable form was sent to the employee or non-payroll worker without the City of Philadelphia “2014 Earned Income Tax Credit (‘EITC’) Notice,” the employer must give the required form to the employee or non-payroll worker no later than February 7, 2015.
The City of Philadelphia “2014 Earned Income Tax Credit (‘EITC’) Notice” form is available for download at http://www.phila.gov/revenue/EITC;
Notification after February 7, 2015 will be evidence of non-compliance of the “same time” requirement, subject to a penalty pursuant to § 19-509 of the Philadelphia Code.
Notification can be provided electronically or in hard-copy.
For Earned Income Tax Credit, go to http://www.eitc.irs.gov.
Hiring Steven was quite possibly the best decision of my life! Steven took the time to hear every single one of my concerns and address them in an extremely clear, concise and thorough manner. He guided me through the notoriously complicated and stressful process of probate with the utmost of compassion and dedication. Thank you Steven!
I highly recommend Steven J. Fromm for all your estate and tax planning needs. He has the most complete and thorough knowledge of current as well as pending federal, state, and local tax codes of any professional that I have ever been involved with. His ability to totally sort out your current financial condition and relate it to a plan to minimize your tax liability and allow you to sleep at night is without equal. He is professional, timely, creative, and an advocate for your needs, whether its personal or business. You can be assured that you will be well taken care of, with cutting edge/ sound financial and tax advice by Steven J. Fromm.
I have always found Steve to be very responsive, accurate and creative in legal matters presented to him. He demonstrates a good business sense. We have collaborated on several highly technical issues over the years. I look forward to our continuing relationship.
Steven has been instrumental in helping my partner and I to create a secure and satisfying estate plan, which meets or exceeds all of our wishes and contains contingencies for everything from medical issues to wealth management and living wills. In this process, Steven has also become a friend. If you need Estate Planning, Tax Advice, a Will or a trust, etc., we highly recommend Steven Fromm, Esquire. He will listen and be sensitive to your unique situation.
Steve is an excellent attorney who has provided help for my family personally for business, tax, and other services for many years. He is extremely knowledgeable and thorough, and is extremely good at explaining legal concepts to me in clear terms understandable to a non-attorney. It is difficult to pick only three attributes above, since Steve’s work meets most if not all of the attributes above.
Steve is an excellent corporate attorney who has a deep understanding of corporate law, taxes and estate planning. He’s been extremely helpful to me in keeping my many companies and business ventures organized, focused and squeaky clean. He’s very strong in estate planning and wealth preservation as well. Finally, his follow through is air tight and utterly dependable.
Steven is a trusted adviser. We depend on him for so many things. He is patient, listens to our needs and makes excellent suggestions. He is extremely talented. We value his advice and have recommended him unhesitatingly to friends and family.
Steve Fromm is a superb lawyer and I highly recommend him! After a terrible experience with a previous lawyer concerning an estate administration, I entered his office feeling very deflated, confused and discouraged. However, I left his office feeling enthusiastic and eager to get down to business. My situation was very unique, I needed his expertise for an array of things and Steve was able to address all of my needs. With a limited timeframe and an extreme amount of obstacles to overcome he worked meticulously, diligently and accomplished extraordinary results. His professionalism is incomparable and I am forever grateful.