Richard L. Perriello PC Accounting and Tax Services

The Internal Revenue Service has unveiled this resource to help persons who are required to file tax returns but who have moved since 2018 or who do not have their bank account information on file; please refer to the following link first: https://www.irs.gov//treasury-irs-unveil-online-applicatio

Just to clear up some of the misinformation that's been going around regarding the CARES Act: 1. The additional $600.00 per week in Unemployment Compensation [which will last 4-8 weeks] was part of the CARES Act and will emanate from the Federal Government, not the PA UC Fund. As we currently understand it - this is subject to change - employers in PA will not see their UC rates increase as a result of the SARS-COV-2 situation. That said, PA and the US Treasury have not estab...Continue reading

Many people are wondering if or when the Commonwealth of Pennsylvania will announce an extension of the due dates for filing their individual tax returns and paying any tax due; per Pennsylvania Statute, the due date for filing Form PA-40 and paying any tax liability reported thereupon is automatically that which is determined to be the due date of one's Federal Income Tax Return and associated liabilities. Per Title 72 of the Pennsylvania Consolidated Statutes, 7330, individual tax returns and associated taxes are due: (a) On or before the date when the taxpayer's Federal income tax return is due or would be due if the taxpayer were required to file a Federal income tax return, under the Internal Revenue Code of 1954, a tax return under this article shall be made and filed by or for every taxpayer having income for the taxable year.

While the deadline for paying taxes due April 15, 2020 had previously been extended to July 15, 2020, it appears that the deadline to file has now been extended as well.

In compliance with the order issued by the Governor of the Commonwealth of Pennsylvania, our office will be closed to foot traffic effective today. We will still be available for contact at our listed phone number - (724)337-3527 - and we will continue to work with our clients remotely. Also, we will be checking our secure mail slot for any documentation you wish to drop off. Despite the ongoing siutation, we will continue to do our best to serve our clients and prepare their personal and business tax returns timely.

A hard part of "tax season" that rarely gets talked about is hearing the sad news of the passing of a client - particularly one you've known literally all of your life and who is much more than someone you see once per year and, perhaps, talk to once or twice more. To ALL of our clients and their families who have lost loved ones over the past year, please accept our most heartfelt sympathies and know that we're thinking of you.

So proud of Mrs. Perriello!

GREAT article about Estate Planning in the Philadelphia Enquirer today - a MUST read - with comments from my friends and colleagues in the Pennsylvania Society of Tax & Accounting Professionals Mary Lew Kehm & David L. Zalles: https://www.inquirer.com//will-estate-planning-what-happen

If you have prior year tax returns that haven't been filed, keep in mind that both the United States Department of the Treasury and the Commonwealth of Pennsylvania can, by statute, deny you a refund or tax credit if too much time has passed. Talk to me about preparing your unfiled tax returns ASAP.

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