August 6, 1988 |
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Goode acknowledged that a 1978 tax law declaring the entire city a "deterioriating area" for exemption purposes was outdated.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.
December 24, 1996 |
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.
August 4, 1999 |
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.
January 30, 1995 |
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.
June 15, 2006 |
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.
September 24, 2015 |
A tax expert retained by former Vanguard Group tax lawyer David Danon in his whistle-blower complaints against the mutual fund giant has sent the IRS a report estimating the company's unpaid federal income tax liabilities at $34.6 billion from 2007 to 2014. "If the IRS were to pursue this matter, it will prevail in court," wrote Reuven S. Avi-Yonah, law professor at the University of Michigan Law School, in his report. Malvern-based Vanguard, the nation's largest mutual fund company, "has no legal justification" for charging its mutual funds artificially low management fees that reduce its reported profits and tax obligations, Avi-Yonah wrote.
March 11, 2013 |
The neighbors did what they could to dress up the gaping wound on their block. They painted the steps black and the porch a bold bluish-green. In the fall, they put a pot of mums out front. But cosmetic touches do only so much for an abandoned shell of a house with sheet metal for windows and a slab of plywood for a door. This wreck in the working-class 4400 block of North Orianna Street in the city's Feltonville section is just one of about 100,000 tax-delinquent properties in Philadelphia, a $5,780 drop in a half-billion-dollar bucket of defaulted payments to the city and School District.
December 7, 2012 |
Terence K. Heaney, 71, of Gulph Mills, a lawyer and certified public accountant, died of complications from esophageal cancer Sunday, Dec. 2, at Neighborhood Hospice in West Chester. Mr. Heaney was a partner with the law firm of Heaney, Kilcoyne, Bleczinski & Kelm in King of Prussia. As an authority on tax law, he lectured at conferences and universities and participated in tax seminars around the country. He was also a guest on the subject of taxes on TV and radio programs and was often interviewed by Inquirer reporters.
April 18, 1994 |
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.
March 17, 1987 |
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.