Blog Posts | Stephano Slack LLC

Pennsylvania Department of Revenue releases new sales and use tax guidelines for equipment rentals and services

Nov 17, 2021 | Blog Posts

The Pennsylvania Department of Revenue (DOR) issued guidance on the new sales and use tax law for equipment rental transactions on November 2, effective immediately. The bulletin provided compliance requirements for taxpayers engaged in renting equipment used in...

Tax Issues in the Primary Methods of Earning Money in Cryptocurrency- Part I

Oct 6, 2021 | Blog Posts

Trading How it’s done: Most trading, through short selling, is done by acquiring cryptocurrency, selling it, and then repurchasing it quickly at a lower price. This obviously is only successful when the investor believes that the price of the crypto will fall...

IRS extends tax relief for Hurricane Ida victims

Sep 23, 2021 | Blog Posts

Hurricane Ida victims can file personal and business tax returns and make tax payments, the Internal Revenue Service (IRS) announced. Those in Pennsylvania can file for tax relief until January 3, 2022. The IRS also provides relief in parts of Louisiana, Mississippi,...

National Taxpayer Advocate’s review of 2021 filing season pushes IRS to improve service, reduce backlog

Aug 4, 2021 | Blog Posts

In the annual midyear report submitted by the Taxpayer Advocate Service (TAS) to Congress last June 30, National Taxpayer Advocate Erin Collins pushed for the improvement of services at the Internal Revenue Service (IRS) to reduce its backlog. Collins commended the...

What you need to know about Child Tax Credit 2021

Jul 19, 2021 | Blog Posts

Most eligible U.S. families began receiving Child Tax Credit payments on July 15, a historic tax relief geared toward reducing child poverty, especially at a time when many are struggling financially as the pandemic’s impact lingers. The Child Tax Credit, first...

Is your PPP loan forgiven?

Jun 24, 2021 | Blog Posts

A Guide to PPP Loan Forgiveness: What You Need to Know The application for the Small Business Administration’s (SBA) Paycheck Protection Program (PPP), a fully forgivable loan designed to support small businesses in keeping their workers on the payroll during...

The New COBRA Subsidy Program Under the American Rescue Plan Act: What Employers Need to Know

Apr 23, 2021 | Blog Posts

Due to the COVID-19 economic crisis, many employees who lost their jobs or had their hours reduced have also lost their health insurance coverage at a time when access to health services matters the most. As a safety net, the Consolidated Omnibus Budget Reconciliation...

Understanding the Expanded Employee Retention Credit

Mar 29, 2021 | Blog Posts

The Consolidated Appropriations Act of 2021 (CAA), signed into law on December 27, 2020, significantly enhanced and extended the Employee Retention Credit (ERC), providing further federal financial relief to businesses impacted by the pandemic. The ERC is a refundable...

Auditing in a Remote Environment: Industry Practices & Development

Mar 16, 2021 | Articles, Blog Posts, Resources

The Covid-19 pandemic has brought many challenges. Along with those challenges are newly imposed restrictions that have impacted the auditing profession. From reduced in-person interactions and client-site visits, the landscape has shifted dramatically – in how...

Retirement Plan Audits: When do I need one?

Nov 17, 2020 | Blog Posts

With the passing of the October 15th deadline, tax season has finally ended. October 15th is not just the extended deadline for taxes to be filled. It is also the extended deadline for Form 5500 to be filed for retirement plans, and if the plan is a “large plan”, an...