Philadelphia Estate and Tax Attorney

For over 38 years, Steven J. Fromm has been providing legal services in the areas of tax; estate planning, wills, trusts; probate and estate administration; income tax planning; IRS representation; business tax planning, corporate formations and sales of businesses.

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

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

  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 panel trucks) will be:

53.5 cents per mile for business miles driven, down from 54 cents…

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2017 PENNSYLVANIA TAX AMNESTY PROGRAM

2017 PENNSYLVANIA TAX AMNESTY PROGRAM

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 participates in the Tax Amnesty program.

 What tax periods are eligible for the…

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IRS Installment Agreements: 2017 User Fee Schedule and Options

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 create two new types of online installment agreements, each subject to a separate fee. Five…

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A Handy Chart of 2017, 2016 and 2015 Retirement Plan & IRA Contribution Limits, Maximum Benefits, Maximum Income Subject to Social Security

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

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

You Do Not Want To Be In This Position

  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 on-line. Taxpayers and tax professionals can not be…

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

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

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 they owe for tax, penalties and interest.

It also should be…

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Pennsylvania and New Jersey Reciprocal Tax Agreement Ends in 2016 Adversely Impacting 250,000 Workers & Thousands of Employers

Pennsylvania and New Jersey Reciprocal Tax Agreement Ends in 2016 Adversely Impacting 250,000 Workers & Thousands of Employers

In September 2016, the governor of New Jersey ended a tax reciprocal tax withholding agreement with Pennsylvania effective Jan. 1, 2017. This nearly 40-year-old tax withholding agreement allowed commuters to pay income tax to the state where they live, rather than the state where they work.

The termination of this agreement impacts nearly 250,000 workers and thousands of employers in PA and NJ…

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City of Philadelphia Department of Revenue Announces Wage Tax Reduction for July 1, 2016

City of Philadelphia Department of Revenue Announces Wage Tax Reduction for July 1, 2016

Philadelphia Landmark: The Famous and Quirky 45 Foot Steel Clothes Pin Created by Sculptor Claes Oldenburg Across from City Hall

  The City of Philadelphia has reduced the City Wage Tax rate effective July 1, 2016.

The new Wage Tax rate for residents of Philadelphia is 3.9004% (.039004).

The new Wage Tax rate for non-residents of Philadelphia who are subject to the Philadelphia City Wage Tax is

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Did You Get a Letter in the Mail from the IRS? Here is What You Need to Do

Did You Get a Letter in the Mail from the IRS? Here is What You Need to Do

Each year, the IRS mails millions of notices and letters to taxpayers for a variety of reasons. This can be extremely upsetting when receiving this form of communication, whether it is from the IRS or any other taxing authority.  The following tips are presented to reduce your anxiety and to provide a specific action plan for any correspondence received from the IRS (or from your state or local…

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2016 Standard Mileage Rates for Business, Medical and Moving

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 car (also vans, pickups or panel trucks) will be:

• 54 cents per mile for business miles driven, down from…

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Tax Positions of Presidential Candidates Here is a neat info-graphic on the tax positions of the Presidential Candidates. Special thanks to MBACentral.org

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

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

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:

Changes to the due dates for various returns. The Act sets new due dates for partnership returns, C…

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Small Businesses Can Get IRS Penalty Relief for Unfiled Retirement Plan Returns

Minimize Penalties For Failure To File Returns For Retirement Plans

Have you failed to file your retirement plan reporting form for your retirement plan?

If you have failed to do so, the Internal Revenue Service on July 14, 2015 provides eligible small businesses a low-cost penalty relief program enabling them to quickly come back into compliance with IRS filing rules.

The program is designed to…

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Philadelphia Use & Occupancy Tax Rate Change Effective July 1, 2015

Lit Brothers: Back in the Day

Philadelphia has just increased its Use and Occupancy Tax as of July 1, 2015. The new Use & Occupancy Tax rate will be 1.21%. This is an increase from the prior rate of 1.13%.

This new rate will be effective with the July 2015 Use & Occupancy tax Return that is due July 27, 2015.  Remember that as of January 2015, all U&O tax returns must be filed and paid on-line…

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The City of Philadelphia Department of Revenue Announces Wage Tax Reduction for July 1, 2015.

City of Philadelphia Department of Revenue Announces Wage Tax Reduction for July 1, 2015.

Philadelphia business owners and those that withhold taxes on employees that live in Philadelphia should take notice that the City of Philadelphia has reduced the City Wage Tax rate effective July 1, 2015.

• The new Wage Tax rate for residents of Philadelphia is 3.9102% (.039102).

• The new Wage Tax rate for non-residents of Philadelphia who are subject to the Philadelphia City Wage Tax is…

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Please Vote For My Philadelphia Estate and Tax Blog As The Best Tax Blog in America For 2015

Please Vote For My Philadelphia Estate and Tax Blog as the Best Tax Blog In America. It only takes a second

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Please Vote For My Philadelphia Estate and Tax Blog As The Best Tax Blog in America For 2015

Vote For My Philadelphia Estate and Tax Blog As 2015 Best Tax Blog

My very own Philadelphia Estate and Tax Attorney Blog qualified as one of 50 finalists in the running for Best Tax Blogs of 2015!

I hope you will take the time to vote as it really only taxes a couple of seconds to do so.  Just hit this link http://wallethub.com/blog/best-tax-blog/10470/?user=sjfpcand then find my pretty face or my Philadelphia Estate and Tax Attorney Blog and hit the blue…

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