President Trump Signs Executive Order Allowing Churches to Engage in More Political Activity

President Trump on Thursday signed an executive order to direct the Internal Revenue Service to relax enforcement of rules barring tax-exempt churches from participating in politics as part of a much-anticipated executive stance on religious liberties. Specifically, the order states “that the Department of the Treasury does not take any adverse action against any individual, […]

IRS Releases Examination Guidelines on Substantiation for 401(k) Hardship Distributions

Many 401(k) plans offer participants the opportunity to withdraw monies on account of hardship. Hardship is one of the exceptions to the requirement that a 401(k) plan be established for retirement and that funds in a 401(k) normally not be distributed until the employee separates from service or attains the retirement age under the plan. […]

Pennsylvania’s 2017 Tax Amnesty Program

Pennsylvania has initiated its 2017 Tax Amnesty Program for all taxes administered by the Commonwealth’s Department of Revenue.  The Amnesty Program will end on June 19, 2017. Participation in the Amnesty Program allows all penalties, collection and lien fees, and 50% of the interest due to be abated. Conditions of Taxpayer Participation To participate, taxpayers […]

Trump Administration Releases Tax Reform Plan

On April 26, the Trump Administration released its plan for tax reform.   National Economic Council Director Gary Cohn and Treasury Secretary Steven Mnuchin gave a high level explanation of the plan at a press briefing and indicated that the administration will hold listening sessions with stakeholders throughout the month of May to receive their input […]