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Tax Law

NEWS
August 6, 1988 | By JEFFREY TAYLOR, Daily News Staff Writer
Mayor Goode, reacting to the disclosure of a multi-million-dollar property- tax break for condominium owners at a Rittenhouse Square high-rise, said yesterday that the city's tax exemption program may need to be changed. While defending the tax break for owners at The Rittenhouse condo and hotel project, Goode acknowledged that a 1978 tax law declaring the entire city a "deterioriating area" for exemption purposes was outdated. It was under that law that The Rittenhouse, located in one of the city's most affluent neighborhoods, received a five-year exemption that could save each condo owner from $30,000 to $130,000.
NEWS
December 24, 1996 | By David Hess, INQUIRER WASHINGTON BUREAU
If an ordinary citizen had done what House Speaker Newt Gingrich has admitted he did, that person would be in jail, his critics in Congress complain. And, they say, he lied to congressional investigators. Gingrich's supporters insist he is guilty only of an unintentional violation of an "arcane tax law" and should not be condemned for it. They say he didn't lie to those investigators; he misled them by mistake. On Saturday, in what was essentially a plea bargain, Gingrich formally agreed with an ethics subcommittee charge that he provided investigators with "inaccurate, incomplete and unreliable" information.
NEWS
August 4, 1999 | By Meredith Fischer, Sonia Krishnan and Rena Singer, INQUIRER STAFF WRITERS
Peco Energy Co.'s filing of an appeal Thursday that seeks to have its Limerick plant declared worthless for real-estate tax purposes was just the first public shot in a potentially huge tax feud between utilities and local governments statewide. At a news conference yesterday, Montgomery County officials said that a handful of other public utilities, which together own 45 properties in the county, say their facilities are not worth a nickel either. The Limerick plant was built in the 1970s at a cost of $6 billion.
NEWS
January 30, 1995 | By Dominic Sama, INQUIRER STAFF WRITER
Significant relief from the Philadelphia wage tax for nonresidents does not appear imminent, according to two of the most powerful legislators in Harrisburg. House Speaker Matthew Ryan and Senate Majority Leader F. Joseph Loeper, both of Delaware County, told a group of business people Friday that tax reform is hindered because of a state law known as the Sterling Act, and because of Mayor Rendell's proposed small tax cut for nonresidents who work in the city. The Sterling Act, named for its author, former Rep. Philip Sterling, was enacted in the 1930s to help Philadelphia generate tax revenues by taxing nonresidents who work in the city.
NEWS
June 15, 2006 | By Angela Couloumbis INQUIRER HARRISBURG BUREAU
After nearly three decades of debate, lawmakers last night finally approved landmark legislation that will deliver property tax cuts to most Pennsylvanians. Shortly before 9 o'clock, the House voted, 137-61, to pass a bill that would initially more than double the number of senior citizens eligible for property-tax rebate checks. Later, it would also help offset property-tax bills for other homeowners through revenue from slot-machine gambling. In Philadelphia, most residents would receive wage-tax relief instead, although city seniors would qualify for expanded property-tax and rent rebates.
NEWS
June 24, 2011 | By Sally A. Downey, Inquirer Staff Writer
Michael F. Beausang Jr., 75, of Devon, who practiced law in King of Prussia for 40 years, died Monday, June 20, of complications of a ruptured appendix at the nursing center at Dunwoody in Newtown Square. Since 1971, Mr. Beausang had a been a member of the law firm of Butera, Beausang, Cohen & Brennan. He specialized in corporate, insurance, banking, and tax law, and served on the boards of several insurance companies and banks. He published numerous articles in professional publications including Tax Management Portfolios and for the Bureau of National Affairs, a publisher of news on law and other subjects.
NEWS
April 18, 1994 | BY MIKE ROYKO
Here are some reasons I have such deep admiration and respect for Congress and the thousands of federal bureaucrats who oversee our lives. In 1913, Americans began paying income tax. That year, the standard individual tax form - the 1040 - was three pages long. It came with one page of instructions. I have a copy of that original 1040. The page of instructions was numbered from 1 to 20 and written in clear, everyday language. The three-page tax form was so simple that anybody who could read, write and do basic arithmetic could handle it. Rich, middle-class or poor, you would have no need to pay H&R Block or a CPA. That year, the entire federal income-tax law, covering everyone in the country, was 16 pages long.
NEWS
August 11, 2010 | By Claudia Vargas, Inquirer Staff Writer
Richard J. Flaster, 67, of Cherry Hill, founding partner of the Flaster Greenberg law firm in Cherry Hill and Philadelphia, died suddenly Monday, Aug. 9, at home. After working on Wall Street for a few years, Mr. Flaster decided to start his own practice, in South Jersey, instead of working intensely for someone else, his wife, Esther, said. In 1972, Mr. Flaster and Emmanuel Liebman teamed up in a tax-law practice in Cherry Hill. The firm went through various name changes as new partners joined, but for at least 15 years, it has been Flaster Greenberg.
BUSINESS
March 17, 1987 | By MARC MELTZER, Daily News Staff Writer
The first installment of a Bell of Pennsylvania rate reduction will appear on many customers' bills next month as a one-time credit of about $1.40, the company said today. Starting next year, the reduction would amount to $68 million a year. Next month's credit totals $15 million in reduced rates. The reductions are prompted by tax savings resulting from the new federal tax law. The credit would appear next month if the state Public Utility Commission approves, Bell said.
BUSINESS
March 18, 1987 | By MARC MELTZER, Daily News Staff Writer
Bell of Pennsylvania's proposed rate reduction, announced yesterday, is too small, the state consumer advocate said. Many customers would get a one-time credit of about $1.40 on bills to be mailed out next month, the company said, for a total of about $15 million. Starting next year, the reduction would amount to $68 million a year. The reductions are prompted by tax savings resulting from the new federal tax law. Next month's credit, if approved by the state Public Utility Commission, will be 11.3 percent of a customer's bill.
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