Tagged: Taxes


2017 IRS Mileage Rates

Here Are The IRS 2017 Standard Business, Medical and Moving Mileage Rates

Posted: June 20, 2017

IRS Standard Mileage Rates For 2017 The Internal Revenue Service has recently issued the 2017 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2017, the standard mileage rates for the use of a car (also vans, pickups or… Read more »

2017 Pennsylvania Tax Amnesty Program

Posted: May 25, 2017

WHAT IS THE PENNSYLVANIA TAX AMNESTY PROGRAM? The PA Tax Amnesty program creates an incentive for taxpayers to pay there tax liabilities during a narrow time period that ends on June 19, 2017. While this program is open, the PA Department of Revenue will waive all penalties and half of the interest for anyone who… Read more »

IRS Installment Agreements: 2017 User Fee Schedule and Options

Posted: February 28, 2017

IRS Installment Agreements: 2017 User Fee Schedule and Options Starting in 2017, the IRS has revised its user fee schedule for installment agreements. The new fee schedule applies to installment agreements entered into, restructured or reinstated on or after January 2, 2017. The final regulations increase the existing user fees (except for low-income taxpayers) and… Read more »

2016: IRS Warns & Updates Taxpayers of Numerous Tax Scams Nationwide: All Taxpayers, Tax and Financial Advisers Need To Read This

Posted: December 15, 2016

2016 Tax Scam Alert As tax season approaches, the Internal Revenue Service, in IR-2016-164,  has just reminded taxpayers to be on the lookout for an array of evolving tax scams related to identity theft and refund fraud. Every tax season, there is an increase in schemes that target innocent taxpayers by email, by phone and… Read more »

2016 IRS Launches New Online Tool to Assist Taxpayers with Basic Tax Account Information

2016 IRS Launches New Online Tool to Assist Taxpayers with Basic Tax Account Information: Do You Want To Know About Your IRS Account Balance?

Posted: December 06, 2016

IRS Online Tool The Internal Revenue Service announced on December 1, 2016 (IR-2016-155) the launch of an online application that will assist taxpayers with straightforward balance inquiries in a safe, easy and convenient way. This new and secure tool, available on IRS.gov allows taxpayers to view their IRS account balance, which will include the amount… Read more »

2016 Tax Update: Governor Christie Reverses and Repeals New Law and Reinstates Pennsylvania-New Jersey Reciprocal Tax Agreement Preventing Adversely Impacting 250,000 Workers & Thousands of Employers

Posted: November 16, 2016

IMPORTANT TAX ALERT: New Jersey Governor Chris Christie on Tuesday, November 22, 2016, reinstated a four-decade old tax reciprocity agreement with Pennsylvania that allows residents who work in either state to pay income taxes at their home state’s rate. You can almost hear the collective sigh of relief of the many commuters that would have been… Read more »

2016 Standard Mileage Rates for Business, Medical and Moving

2016 Standard Mileage Rates for Business, Medical and Moving

Posted: December 18, 2015

2016 Standard Mileage Rates for Business, Medical and Moving The Internal Revenue Service on December 18, 2015 issued the 2016 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2016, the standard mileage rates for the use of a… Read more »

2015 Tax Law Changes and FBAR Filing Deadlines & Other Noteworthy Compliance Provisions: The Good, The Bad & The Ugly

2015 Tax Law Changes Tax and FBAR Filing Deadlines & Other Noteworthy Compliance Provisions: The Good, The Bad & The Ugly

Posted: August 09, 2015

Overview of 2015 Tax Law Changes On Friday, July 31, 2015, President Barack Obama signed HR 3236, the “Surface Transportation and Veterans Health Care Choice Improvement Act of 2015” (the “Act”). Not sure how this name relates to taxes but in any event the following tax law changes and provisions became law under this Act:… Read more »

2015 Philadelphia Notice Requirements for Businesses

2015: Philadelphia Businesses Must Provide Tax Notice Of EITC Program To Employees and Non-Payroll Workers

Posted: January 20, 2015

2015 Philadelphia Notice Requirements for Businesses 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… Read more »

year-end-tax-planning-for-business

2014 Year-End Tax Planning Guide For Businesses: Discover 9 Proven Tax Planning Strategies

Posted: December 26, 2014

Overview of 2014 Year-End Tax Planning The arrival of year-end presents special opportunities for most small businesses to take steps in lowering their tax liability. The starting point is to run projections to determine the income and tax bracket for this year and what it may be next year. Once this is known, decisions can… Read more »

Year-End Tax Planning

2014 Year End Tax Planning Tips: Instantly Discover What You Can Do Now To Start Saving Taxes Before Year End With Proven Tax Attorney Strategies

Posted: November 29, 2014

Overview of Year-End Tax Planning: As the year-end quickly approaches, there is still time to do year-end tax planning to generate significant tax savings. As many of you know, changes to the tax laws in 2013 made many tax rates (subject to cost of living adjustments) and certain tax breaks permanent. The President has signed… Read more »

college-tuition-tax-breaks

College Tuition: Discover How Grandparents Can Help Their Grandchildren and Save Taxes Too

Posted: September 01, 2014

How Grandparents Can Help Grandchildren and Save Taxes Too With college tuition coming due, families should consider tax efficient ways to pay for these expenses. Grandparents who wish to help their children with tuition costs can take advantage of some special gift tax breaks. Grandparents have the usual annual present interest gift tax exclusion (now… Read more »

US Citizens Living Outside America: Streamlined Foreign Offshore Procedure Offers Tax and Compliance Relief

US Citizens Living Outside America: Streamlined Foreign Offshore Procedure Offers Tax and Compliance Relief

Posted: June 19, 2014

Streamlined Foreign Offshore Procedure Offers Tax and Compliance Relief For US Citizens Living Abroad A couple of weeks ago, I had someone come in my office who has lived abroad since he was 7 years old. He is a citizen of the United States and Netherlands. He has never filed United States income tax returns…. Read more »

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From their offices in Philadelphia, PA, the law firm of Steven J. Fromm & Associates, P.C. provides a full range of estate planning, probate and estate administration, tax, business and corporate legal services to clients throughout eastern Pennsylvania and the Delaware Valley, the Lehigh Valley Area, the Five-County Area, Bucks County, Delaware County, Montgomery County, Chester County, Philadelphia County, Berks County, Lehigh County, Lancaster County, York County, Harrisburg, Norristown, Doylestown, Media, West Chester, Allentown, Lancaster, and Reading.