Philadelphia Zoning and Land Use Update -
The Philadelphia Office of Property Assessment (OPA) has issued draft regulations for the implementation of the changes in Philadelphia’s 10-year tax abatement in 2022....more
The Ballard Spahr Zoning and Land Use Team continues to monitor all aspects of the Philadelphia land use approval process, including the issuance of zoning and building permits, regulation of construction work, and zoning and...more
The Ballard Spahr Zoning and Land Use Team continues to monitor all aspects of the Philadelphia land use approval process, including the issuance of zoning and building permits, regulation of construction work, and zoning and...more
The Pennsylvania Commonwealth Court (in Duffield House, L.P. v. City of Philadelphia - available here) unanimously held that the City’s reassessment of only commercial real estate (not residential real estate) in 2018...more
The Ballard Spahr Zoning and Land Use Team continues to monitor all aspects of the Philadelphia land use approval process, including the issuance of zoning and building permits, regulation of construction work, and zoning and...more
Summary -
Businesses with employees in Pennsylvania and Philadelphia should be prepared to adapt to a post-COVID world as temporary guidance regarding remote work expires and pre-COVID rules regarding employment tax...more
The Ballard Spahr Zoning and Land Use Team is continuing to monitor all aspects of the Philadelphia land use approval process, including the issuance of zoning and building permits, regulation of construction work, and zoning...more
Philadelphia City Council enacted Ordinance No. 210139-AA (the Ordinance; available here), effective immediately, requiring all Philadelphia taxpayers to report any changes to their federal taxable income to the Philadelphia...more
The Ballard Spahr Zoning and Land Use Team is continuing to monitor all aspects of the Philadelphia land use approval process, including the issuance of zoning and building permits, regulation of construction work, and zoning...more
The Ballard Spahr Zoning and Land Use Team is continuing to monitor all aspects of the Philadelphia land use approval process, including the issuance of zoning and building permits, regulation of construction work, and zoning...more
Due Date for 2020 Tax Returns and Most Payments Extended to May 17, 2021; Estimated Taxes Still Due April 15, 2021 -
Due to lingering concerns related to the pandemic and material changes to the tax laws in the American...more
ARP Tax Changes Include Credit Extensions/Expansions, Tax Relief for EIDL and Grant Recipients, and Changes to Worldwide Interest Allocation Rules -
Among many other provisions, the American Rescue Plan (ARP), the $1.9...more
Included as part of the Stimulus Bill (the Bill) are the COVID-Related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax Relief Act of 2020. For a discussion of other aspects of the Bill, see our...more
The Ballard Spahr Zoning and Land Use Team is continuing to monitor all aspects of the Philadelphia land use approval process during the COVID-19 emergency, including the issuance of zoning and building permits, regulation of...more
In Revenue Ruling 2020-27, the IRS announced that taxpayers cannot deduct expenses paid for with the proceeds of a Paycheck Protection Program (PPP) loan that is forgiven, even if the PPP loan forgiveness occurs in a later...more
In a surprising—but taxpayer-friendly—development, Treasury announced in Notice 2020-75 (available here) that it will be issuing proposed regulations that allow partnerships and S corporations to deduct certain state and...more
In light of the ongoing pandemic, the Pennsylvania Department of Revenue announced that the due dates for many Pennsylvania individual and business tax returns have been extended....more
Late in the afternoon on Friday, August 28, Treasury issued Notice 2020-65 providing guidance implementing President Trump’s Executive Memorandum on social security payroll tax deferral (Payroll Tax Deferral). President...more
8/31/2020
/ Executive Orders ,
FICA ,
IRS ,
Lost Wages ,
Minimum Wage ,
Payroll Taxes ,
Presidential Memorandum ,
Social Security Taxes ,
Tax Deferral ,
Trump Administration ,
U.S. Treasury ,
Wage and Hour
Treasury and the IRS released proposed regulations under Section 1061 of the Internal Revenue Code (the Code) on July 31, 2020, that require certain taxpayers to satisfy a three-year holding period, rather than a one-year...more
8/19/2020
/ Capital Gains ,
Carried Interest ,
Carried Interest Tax Rates ,
Holding Periods ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Partnerships ,
Popular ,
Private Equity ,
Proposed Regulation ,
Real Estate Investments ,
Tax Cuts and Jobs Act
On August 8, 2020, President Trump signed four documents—three Presidential Memoranda and one Executive Order—aimed at directing further COVID-19 relief. Two of the memoranda related to unemployment assistance and deferred...more
8/14/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Eviction ,
Executive Orders ,
Extensions ,
FEMA ,
Government Assistance ,
Lost Wages ,
Payroll Taxes ,
Presidential Memorandum ,
Social Security Taxes ,
Tax Deferral ,
Trump Administration ,
Unemployment Benefits ,
Unemployment Insurance
On July 31, 2020, the IRS and Treasury released the long-awaited proposed regulations on the new carried interest rules in Section 1061 of the Internal Revenue Code (IRC) that became law as part of the Tax Cuts and Jobs Act...more
8/14/2020
/ Business Taxes ,
Capital Gains ,
Carried Interest ,
Carried Interest Tax Rates ,
Corporate Taxes ,
Holding Periods ,
Income Taxes ,
Internal Revenue Code (IRC) ,
IRS ,
Partnerships ,
Proposed Regulation ,
Real Estate Investments ,
Reporting Requirements ,
Tax Cuts and Jobs Act ,
Tax Reform
The IRS released a final version of Form 941 (the employment tax return to be used by employers for the second quarter for 2020) and a revised set of accompanying Instructions. The Form and particularly the Instructions...more
6/30/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Form 941 ,
IRS ,
Paycheck Protection Program (PPP) ,
Payroll Taxes ,
Relief Measures ,
SBA ,
Small Business Loans ,
Tax Deferral ,
Tax Planning
The Internal Revenue Service (IRS) issued Notice 2020-46 providing guidance to employers whose employees forgo sick, vacation, or personal leave to aid victims of COVID-19....more
The IRS updated the FAQs on its website, providing guidance regarding who is eligible to claim an employer retention credit (ERC) added by the CARES Act, how the ERC is calculated and interact with other provisions, and other...more
A recent opinion from the Pennsylvania Supreme Court clarifies the definition of employment under the state’s Unemployment Compensation Law, potentially increasing the amount of Unemployment Compensation Tax (UC Tax) that...more