EITC Tax Credit Donations Expand Program Participation

What is the Pennsylvania EITC Program? The Educational Improvement Tax Credit program allows business donors and accredited individual donors to redirect their annual business and individual income tax liabilities to local schools and charities that help kids from ages 3 to 18. What tax benefit does a donor receive? The donor receives a 90% Pennsylvania […]

Altoona’s Central Business District

Government Incentive Programs Could Bring Development to Altoona’s Central Business District Altoona’s 11th Avenue and 13th Street looks a little different today than it did a few years ago because of a large scale development in 2011. The area where Kaufman’s Wedding World and Meyer Jonasson’s once stood is now home to Penn State Altoona’s […]

IRS Eases Process To Fix IRA 60 Day Late Rollovers

Under prior IRS rules a rollover on day 61 was incorrect and had to be self corrected or an expensive time consuming private letter ruling process had to be followed by the taxpayer to obtain relief from the IRS. In either case the taxpayer was looking at extreme financial and negative emotional consequences. Rev Proc […]

Will The IRS Find Your Foreign Bank Account?

Yes, eventually the IRS will find your foreign bank account. When they do, hopefully your foreign bank accounts with balances over $10,000 have been reported annually to the IRS on a FBAR “foreign bank account report” (Form 114). And hopefully interest and dividends from your foreign bank accounts will already be reported on your annual […]

Accountant #7 Bitcoin Tax

Sickler, Tarpey and Associates prepares personal and business tax returns including all bitcoin transactions for current years and prior years if necessary. Our fees are reasonable and can be paid in bitcoins. With the new IRS attention to bitcoin transactions it’s important that you include transactions on your personal tax return including the capital gain […]