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As we have shared before, the IRS changed the withholding tables earlier this year after the passage of the Tax Cuts and Jobs Act of 2017.  As a result, a recent poll of members of the Pennsylvania Institute of Certified Public Accountants (PICPA) revealed that a large majority of their clients needed to adjust their[…]

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It is always a good idea to examine your tax exposure once per year as you complete your taxes. Changes to the tax law for 2018 have prompted many taxpayers to ask,  “Am I having enough money taken out of my paycheck?”  Now is the time to examine your tax withholding. In February of this[…]

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Whether or not your pension is taxed depends on the type of pension—years of service or disability—and the type of tax—federal, state, or social security. The Federal Government and Military Retirement Pay If you’ve spent twenty or more years in military service, you’re entitled to a military pension upon retirement. The federal government considers this[…]

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“Audit” is a scary word for most people, because they think it automatically means they’ve done something wrong on their taxes and are going to get penalized. True, sometimes the IRS notices a problem, whether it was intentional misreporting or an inadvertent error. But this is not always the case. The IRS sometimes uses random[…]

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