New FinCEN Rule Exempts US Companies from Reporting Requirements
On March 21st, the Financial Crimes Enforcement Network (FinCEN), Treasury, issued interim final rules that eliminate the requirement of U.S. entities to report the Beneficial Ownership Information (BOI) reporting requirements as required by the Corporate Transparency Act (CTA). This represents the complete reversal of rules previously issued by FinCEN under…
New Annual Reporting Requirement for Pennsylvania Entities
Background On November 3, 2022, Governor Wolf signed Act 122 of 2022[1] (the “Act”) into law, implementing significant changes for domestic and foreign filing entities in the Commonwealth of Pennsylvania. Among the many changes made by this legislation, the Act created an annual reporting requirement for most domestic and foreign…
Sponsor a Defined Benefit Plan? March 31, 2025 Restatement Deadline Approaching
PLAN RESTATEMENTS The Internal Revenue Service (“IRS”) requires that all pre-approved qualified retirement plan documents be restated in their entirety every six (6) years (this period is often referred to as the “Restatement Cycle”). Pre-approved plans subject to this mandate consist of prototype plan documents. A prototype plan document is…
K&D Shareholder, Eric A. Feldhake inducted as President of the American Wine Society
Kulzer & DiPadova, P.A. is pleased to announce that shareholder, Eric A. Feldhake has been inducted as President of the American Wine Society. Mr. Feldhake is a shareholder with the firm. He earned his J.D. at Temple University School of Law, where he was a senior editor of the Temple…
Form 5471 Late Filing Penalties and Protective Refund Claims
The Internal Revenue Service (“IRS”) Form 5471, Information Return of U.S. Persons With Respect to Certain Foreign Corporations, is one of the most complicated international information reporting forms that some U.S. taxpayers may have to file each year depending on the U.S. taxpayer’s direct or indirect ownership in a foreign…
K&D Shareholder, Joseph T. Kenney appointed to the BCRCC Board of Directors for 2025
Kulzer & DiPadova, P.A. is pleased to announce that shareholder, Joseph T. Kenney has been appointed to the Board of Directors for the Burlington County Regional Chamber of Commerce for 2025. Mr. Kenney is a shareholder with the firm and is a graduate of LaSalle University and Rutgers University School…
The Expiring TCJA Provisions and the Political Path Forward
On the minds of many tax-conscious Americans is the looming December 31, 2025 expiration of the Tax Cuts and Jobs Act (the “TCJA”) provisions. The TCJA was passed by a Republican Congress and signed into law by President Donald Trump in 2017. Since its enactment, the Act has significantly reduced…
New Jersey Lawmakers Tweak Property Tax Relief Programs
New Jersey Property Tax Programs Tweaked by Lawmakers Background: New Jersey Senate Bill 3693/Assembly Bill 4706 (the “Bill”) was signed into legislation by Gov. Phil Murphy on November 1, 2024.[1] The Bill focuses on implementing the new Stay NJ property tax relief program and impacts several other state property tax…
Caroline C. Sutherland Named Associate
Kulzer & DiPadova is pleased to announce that Caroline C. Sutherland has joined the firm! Caroline C. Sutherland is an associate at Kulzer & DiPadova, P.A. She is a member of the Bar of the State of New Jersey. Ms. Sutherland earned her J.D., cum laude, from Villanova University School…
Harris Plans to Dramatically Increase Estate Taxes
Vice President Kamala Harris announced her endorsement of the estate tax provisions contained in the American Housing and Economic Mobility Act of 2024 (the “Act”). Many of these provisions are changes that President Biden wanted to make in 2020 but was not successful. Note that the Harris provisions are independent…