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.

Article by Wayne M. Pecht

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Adam G Klein Attorney in Harrisburg, PA

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!

Update by Adam G. Klein

Stuart S. Sacks Attorney in Harrisburg, PA

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.

Wayne M Pecht Attorney in Harrisburg, PA

Tax Time Tip

If you changed your name because of marriage, divorce, adoption, etc., be sure to timely report the change to the Social Security Administration and apply for a new Social Security card by filing Form SS-5 with the SSA.Call 800-772-1213 or go to https://www.ssa.gov/ssnumber to obtain the details.Names shown on tax returns must match Social Security records.A mismatch can delay the processing of your return and your refund.

Tip by Wayne M. Pecht

Michael R Kelley Attorney in Harrisburg, PA

What is an Additional Insured?

What is an additional insured?
Let’s say that Landlord owns a commercial warehouse and leases it to Tenant Company. Landlord maintains property insurance for the building itself, but, in the lease, it requires Tenant Company to obtain commercial liability coverage and to add Landlord as an “additional insured” under the liability policy.

Article by Michael R. Kelley

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Michael R Kelley Attorney in Harrisburg, PA

Full Tort vs. Limited Tort

A frequently asked question is: “what does limited tort mean on my car insurance”?
Here’s the answer: When you go with a new car insurance company, or renew your current insurer, you have the option of choosing “full tort,” or, for a lower premium, “limited tort.” If you choose “limited tort,” and are hurt in an accident, you will be limited to recovering only your medical expenses and wage losses, unless you suffered a “serious injury.”

Article by Michael R. Kelley

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Michael R Kelley Attorney in Harrisburg, PA

“Bad Faith” Conduct by an Insurer?

What is “bad faith” conduct by an insurer? You’ve probably heard the phrase “bad faith” used in reference to insurance company conduct. But, what does this mean? Pennsylvania courts define “bad faith” as a frivolous or unfounded refusal to pay money owed under a policy, or to defend you in a lawsuit covered by your policy. Mere negligent conduct is not enough.

Article by Michael R. Kelley

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Wayne M Pecht Attorney in Harrisburg, PA

New Mileage Rates for 2019

The business mileage rate increased 3.5 cents for business travel driven and 2 cents for medical and certain moving expense from the rates for 2018. The charitable rate is set by statute and remains unchanged. Beginning on January 1, 2019, here are the standard mileage rates for the use of a car (also vans, pickups or panel trucks).

Article by Wayne M. Pecht

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Wayne M Pecht Attorney in Harrisburg, PA

New ABLE Account Benefits

The Internal Revenue Service wants to remind those with disabilities that the Tax Cuts and Jobs Act (2017) made major changes to Achieving a Better Life Experience (ABLE) accounts. Eligible individuals may now put more money into their ABLE account and also roll money from their qualified tuition programs (529 plans) into their ABLE accounts. And certain contributions made to ABLE accounts by low- and moderate-income workers may now qualify for the Saver’s Credit.

Article by Wayne M. Pecht

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Wayne M Pecht Attorney in Harrisburg, PA

Reviewing your Estate Plan: Effect of New Tax Act on Gift Tax The Tax Cuts and Jobs Act of 2017 and Charitable Giving

The new tax act passed by Congress in December 2017 has had a tremendous impact on tax planning. Estate and gift tax provisions are among the Internal Revenue Code provisions affected by the new tax act.

Article by Wayne M. Pecht

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Adam G Klein Attorney in Harrisburg, PA

Insurance Issues Raised by Harrisburg Wall Collapse

It wasn’t Howard Henry’s fault. He didn’t cause the retaining wall of a neighboring property to come crashing down onto his Cameron Street business, Howard Tire and Auto, last May. He didn’t do anything to create confusion about who is responsible for that century-old wall, a battle still being fought as three different entities deny ownership.

Article by Adam G. Klein

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Stuart S. Sacks Attorney in Harrisburg, PA

Courts Find It’s Harder To Tell Who Is A Parent

The Pennsylvania Superior Court for the first time has held a third-party sperm donor liable for the financial support of two children born to domestic partners as the result of artificial insemination procedures. If ever there was a call for legislative action to set statewide policies, this case and the growing number of others like it, demand that now is the time

Article by Stuart S. Sacks

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