2021 Philadelphia Notice Requirements
The City of Philadelphia requires businesses to give notifications to their employees about the City of Philadelphia Income-based Wage Tax Refund program and the Federal Earned Income Credit programs discussed below. This notification can be an electronic or printed copy, and needs to happen no later than February 1, 2021.
The City of Philadelphia Income-based Wage Tax Refund Program
The City also reduces the rate on Wage and Net Profit Taxes to 1.5% for taxpayers who are eligible and complete Pennsylvania Special Tax Forgiveness (“Schedule SP”) of the Pennsylvania Personal Income Tax Return. Eligible Philadelphia Wage taxpayers may request a refund from the Philadelphia Department of Revenue by submitting an Income-based Wage Tax Petition.
What must business do to promote the Income-based Wage Tax refund?
Employers may not reduce their employees’ Wage Tax withholding. Philadelphia asks employers to send employees who receive a W-2, and earned less than $100,000, an Income-based Wage Tax Petition. Eligible employees that file a petition can receive a refund of Wage Tax paid in excess of 1.5% for the previous year.
Income-based Wage Tax Petitions for 2020 will soon be available at the Philadelphia Department of Revenue website. Employers can download and print the document, or share this webpage with their employees: www.phila.gov/revenue/wage-tax-petition.
The Federal Earned Income Tax Credit (EITC)
The City of Philadelphia wants every Philadelphian who is eligible to receive the federal Earned Income Tax Credit (EITC). This federal credit is for low-to moderate-income individuals and families. They can get the EITC by filing a federal tax return. With an average benefit of $2,500 per tax return, EITC provides hard-working Americans with a needed financial boost every year. Despite this, Philadelphia understands that thousands of Philadelphia residents are not claiming EITC, resulting in millions of dollars being left out of our local economy. After a particularly difficult year for workers and businesses, Philadelphia wants employers to provide this notice.
How should your business promote EITC?
The City of Philadelphia provides a notice that explains how employees can claim EITC –online and FREE– by visiting www.myfreetaxes.com. The City requires employers to give workers this notice at the same time they provide them with W-2, 1099, or comparable forms. You can do this electronically, or give them a printed copy. The notice is available for download at www.phila.gov/revenue/eitc.
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