Latest Tax News
Things are changing…in Philadelphia that is. The wage rates for the city are decreasing as of 7/1/2022. See below for the new rates:
Resident rate: 3.79%
Non-Resident rate: 3.44%
Learn more about the Philadelphia business wage
New mileage rate for everyone: 62.5 ₵
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You still have more time! The deadline for older and disabled Pennsylvanians to apply for rebates on rent and property taxes paid in 2021 has been extended from June 30 to Dec. 31, 2022. Learn more about this rebate.
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Waiting to hear from the IRS (or get that refund)? It may be a long wait, even up to six months. The IRS is facing substantial backlog, particularly in the form of processing paper returns. “At the end of May, the agency had a backlog of 21.3 million unprocessed paper tax returns, an increase of 1.3 million over the same time last year.” Read more about this
A key factor noted in the article is the IRS’ poor capability to handle its incoming phone calls and therefore the issues that can easily be resolved through a simple phone call.