Searching Content indexed under Income Tax by Schnader Harrison Segal & Lewis LLP ordered by Published Date Descending.
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New Tax Law Quashes Deduction for Some Sexual Harassment Settlements
Payments made pursuant to a confidential settlement of sexual harassment allegations will no longer be a permissible tax deduction for business under a little-noticed provision in the Tax Cuts and Jobs Act.
United States
3 Jan 2018
The Tax Cuts And Jobs Act: Impact And Planning
An exhaustive list of the changes implemented by the Act is beyond the scope of this Alert
United States
28 Dec 2017
Is An S Election For An LLC Smart Planning Or A Bad Idea?
When Congress enacted the S corporation statutes, the only entity capable of making an S election was a state law corporation, and the statutes are built on that premise.
United States
22 Aug 2016
IRS Shuts Down Work Around For Treating A Partner As An Employee
The IRS has long taken the position that a partner cannot also be an employee of the partnership.
United States
16 May 2016
The Pennsylvania Capital Stock Tax Is No More—Now What?
With the April 15 deadline for calendar year Pennsylvania Corporate Tax Report (RCT-101) filers right around the corner, it is worth remembering that the Pennsylvania Capital Stock/Foreign Franchise Tax ("CS/FFT") has finally been allowed to expire for tax years beginning after December 31, 2015.
United States
4 Apr 2016
Lift Of Prohibition On Same-Sex Marriages In Pennsylvania Provides New Estate Planning Opportunities
in the case of Whitewood v. Wolf, the U.S. District Court for the Middle District of Pennsylvania struck down Pennsylvania’s ban on same-sex marriages.
United States
18 Jun 2014
U.S. Government To SCOTUS: Severance Pay Subject To FICA Taxes
On Tuesday, the Internal Revenue Service argued before the U.S. Supreme Court in U.S. v. Quality Stores Inc. et al., case no. 12-1408, that severance payments made to employees following involuntary termination of employment should be subject to payroll taxes under the Federal Insurance Contributions Act (FICA).
United States
18 Jan 2014
Charitable Giving Under The American Taxpayer Relief Act Of 2012
Depending on the taxpayer's income level and other deductions, this limitation could adversely affect charitable contributions.
United States
23 Jan 2013
2013 Brings Estate, Gift & GST Tax "Permanency" At Last
The uncertainty of the last two years was put to rest on January 2, 2013 when President Obama signed into law the "American Taxpayer Relief Act of 2012".
United States
21 Jan 2013
The American Taxpayer Relief Act Of 2012 And What It Means To You
On Jan. 2, 2013, President Obama signed the "American Taxpayer Relief Act of 2012" (the "Act") which was passed by the House and Senate the previous day to avoid the so-called "fiscal cliff."
United States
14 Jan 2013
2013 Brings New Taxes To High Income Taxpayers
The Patient Protection and Affordable Care Act (sometimes called "Obamacare") comes with two new taxes for higher income taxpayers beginning on January 1, 2013.
United States
3 Jan 2013
Tax Relief For Hurricane Sandy Victims
Due to Hurricane Sandy's impact, the Internal Revenue Service has extended various tax filing and payment deadlines that occurred starting in late October.
United States
15 Nov 2012
New Pennsylvania Rules Require Immediate Appeals In Matters Involving Trusts, Charities, And Other Proceedings Heard By Pennsylvania Orphans' Courts
On February 13, 2012, new amendments to the Pennsylvania Rules of Appellate Procedure took effect and made substantial changes to the right to appeal from orders entered by Pennsylvania's Orphans' Courts.
United States
12 Mar 2012
Ring in 2011 and 2012 with the New Tax Law
On December 17, 2010, the President signed into law the "Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010" ("Act"), revising the income, estate, generation-skipping transfer ("GST") and gift taxes for 2010, 2011 and 2012.
United States
7 Feb 2011
Labor & Employment Alert: New Tax Incentives for Hiring Unemployed Workers
Businesses that hire individuals who were previously unemployed or working only part-time may be eligible for two new tax benefits under the Hiring Incentives to Restore Employment (HIRE) Act:
United States
11 May 2010
New Tax Credit Helps Small Nonprofits Provide Health Insurance Coverage
Many small tax-exempt organizations that provide health insurance coverage to their employees may now qualify for the Small Business Health Care Tax Credit.
United States
26 Apr 2010
Pennsylvania State Budget: Changes To Capital Stock/Foreign Franchise Tax And Corporate Net Income Tax For Fiscal Year 2009-2010
On October 9, Governor Edward G. Rendell signed into law House Bill 1531 ("Act 48") as part of Pennsylvania’s 2009-2010 budget process. Act 48 includes, among other things, several business tax changes that affect both the capital stock – foreign franchise tax and the corporate net income tax.
United States
19 Nov 2009
Investment Activities Could Trigger Taxes For Nonprofits
Investment activities that are common for most taxpayers may create complications for tax-exempt entities. The United States Court of Federal Claims recently determined that two charitable trusts were liable for income taxes on profits derived from securities they purchased on margin.
United States
17 Nov 2009
Proposed Amendments To Philadelphia BPT Regulations Affect Nonprofits
The purpose of this alert is to advise you of proposed amendments to the Philadelphia Business Privilege Tax Regulations that, if finally approved as currently written, would affect nonprofit organizations.
United States
13 Oct 2009
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