“The SECURE Act was part of a larger law that passed with bipartisan support in late 2019 and became effective January 1, 2020. The SECURE Act contains many provisions which will effect individual taxpayers. This articles breaks down the SECURE Act and discusses what you need to know moving forward.“Read the Article
“The IRS has been promising a new version of Form W-4, Employee’s Withholding Certificate, for some months, and it recently published it, with a brief announcement in its e-News service. The form is very similar to a draft version published earlier in 2019. Although the IRS has not yet published extensive new guidance, it did outline the changes in a FAQ list.“Read the Article
“On December 31, 2019, the IRS released Notice 2020-05 which establishes new standard mileage rates and related automobile expense deduction limits for 2020.The standard mileage rate for transportation or travel expenses is 57.5 cents per mile for all miles of business use (business standard mileage rate).“Read the Article
Medical Marijuana Company Brings Jobs and Revenue to Northumberland County
“The medical marijuana company that finalized its real estate purchase of county land this week is expected to open its grower/processor facility by March. Krista Krebs, co-owner of Parea BioSciences, and Northumberland County Commissioner Sam Schiccatano confirmed the deed was signed on Thursday through MNK 03 Holdings, the holding company of Parea BioSciences, for $1.5 million. Parea, which now owns 10 acres of land near the new prison in Coal Township, anticipates 45 jobs this year with a maximum of 120 at the site.” – Read more here!
“For most of Pennsylvania’s 232 year history, court-held adoption records have been inaccessible by adoptees, adopting parents and biological parents. Adoptees were only permitted access to medical information and only by Order of Court.“Read the Article
IRS Provides Tax Inflation Adjustments For Tax Year 2020
“The tax law change covered in the revenue procedure was added by the Taxpayer First Act of 2019, which increased the failure to file penalty to $330 for returns due after the end of 2019. The new penalty will be adjusted for inflation beginning with tax year 2021.
The tax year 2020 adjustments generally are used on tax returns filed in 2021.“
Tri-County Housing Development Corporation Board
“Stuart Sacks has been committed to improving housing for low and moderate income individuals and families throughout his career.For the past 15 years he has served on the Tri County Housing Development Corporation Board of Directors helping to build or rehabilitate over 600 homes in Dauphin, Cumberland, Perry and Franklin Counties. A new home in the Allison Hill section of Harrisburg is now available for another qualified family as his efforts at community revitalization continue.“
Update on the Cleanup of the Harrisburg Wall Collapse
“An insurance company for the McFarland Apartments in Harrisburg this week agreed to pay millions of dollars to clean up tons of debris left behind after a wall collapse, but refused to build a new wall. The insurance company also refused to pay for renovations to McFarland’s 8-unit apartment building closest to the collapse site, according to a letter from the Federal Insurance Company obtained by PennLive.” – Read more here!
Past Articles of Interest
- Tax Time Tip
- What is an Additional Insured?
- Full Tort vs. Limited Tort
- “Bad Faith” Conduct by an Insurer?
- New Mileage Rates for 2019
- New ABLE Account Benefits
- Reviewing your Estate Plan: Effect of New Tax Act on Gift Tax The Tax Cuts and Jobs Act of 2017 and Charitable Giving
- Insurance Issues Raised by Harrisburg Wall Collapse
- Courts Find It’s Harder To Tell Who Is A Parent