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Daily News

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Pittsburgh Business Times

Personalities of Pittsburgh: Graham Rihn with RoadRunner Recycling

Sun, May 24, 2020

Graham Rihn has seen rapid growth in the recyling industry over the past few years as founder of RoadRunner Recycling. ...

Swinging market slices public company values in 2020

Sun, May 24, 2020

Local public companies lost $58.9 billion in value as the global economy contracted due to the Covid-19 pandemic, but they are still way up from the low points, mostly hit during mid-March. ...

Pittsburgh marketing agency expands to Florida

Sat, May 23, 2020

New office debuts on June 1. ...

Travel infrastructure likely to see long-lasting effects from pandemic

Fri, May 22, 2020

Here's what it's been through already, and what we might expect in the months to come. ...

Front-door boarding, fare collection to resume on Port Authority vehicles in June

Fri, May 22, 2020

Beginning June 1, front-door boarding will resume on the Port Authority of Allegheny County's buses throughout the region as western Pennsylvania sees restrictions lifted that were brought on due to Covid-19. Regular fare collection will also resume but one week later on June 8. Passengers will continue to board through the rear entrance until then, however. The Port Authority said it would co...

FNB Financial Center back on track — with plans to be one of the first towers built for a post-pandemic world

Fri, May 22, 2020

Second-biggest bank based in PA says project takes on new importance as the country grapples with Covid-19 pandemic. ...

Wolf taps 17 counties to move to green phase next week

Fri, May 22, 2020

While a few counties moving to green are in western Pennsylvania, there was no word on when Allegheny County would move to the green phase. ...

Allegheny Regional Asset District to reduce 2020 operating grants amid pandemic

Fri, May 22, 2020

The Allegheny Regional Asset District announced during a public meeting that it was reducing its 2020 operating grants by 20% as a result in lost revenues from March sales. According to the organization's board of directors, March revenues, which are calculated as parts of May's revenue, totaled $1.82 million below budget projections, or 23% lower than May 2019 revenues. The board anticipates ...

Restaurants, hotels required to follow new guidelines for drinks-to-go law

Fri, May 22, 2020

Restaurants and hotels in Pennsylvania are now facing new state guidelines as part of the drinks-to-go legislation that Gov. Tom Wolf signed on Thursday. The law was drafted in an effort to help businesses that have faced revenue losses as part of state-mandated shutdowns amid the Covid-19 pandemic. However, the law does not just allow for anyone with a liquor license to start serving drinks t...

ARM to receive portion of $5 million grant

Fri, May 22, 2020

The institute will find out in late June or early July how much of the funding it will receive. ...

US Tax News

Tax-News.com: US IRS Sets Out Details Of COVID-19 Tax Breaks

Fri, May 15, 2020

On May 7, 2020, the United States Internal Revenue Service issued a reminder to employers affected by COVID-19 about the tax credits made available to them under the Coronavirus Aid, Relief, and Economic Security Act....

Tax-News.com: Bill Would Exclude US Territories, Possessions From GILTI Regime

Fri, May 15, 2020

On May 4, 2020, a bill was introduced in the United States House of Representatives to limit the impact of the Global Intangible Low Tax Income regime on businesses based in US territories and possessions. ...

Tax-News.com: US IRS Announces TCJA Compliance Campaign

Fri, May 15, 2020

On May 1, 2020, the United States Internal Revenue Service Large Business and International Division announced a new compliance campaign focusing on the 2017 Tax Cuts and Jobs Act and the recently enacted Coronavirus Aid, Relief and Economic Security Act. ...

Tax-News.com: US Taxpayers Can Apply Online For COVID-19 Economic Impact Payments

Fri, May 01, 2020

On April 15, 2020, the United States Internal Revenue Service unveiled the "Get My Payment" online tool that will allow taxpayers to receive economic impact payments under the Coronavirus Aid, Relief, and Economic Security Act. ...

Tax-News.com: IRS Publishes Transfer Pricing FAQs

Fri, May 01, 2020

On April 16, 2020, the United States Internal Revenue Service issued a set of frequently asked questions and answers to help inform taxpayers about transfer pricing documentation best practices. ...

Tax-News.com: OECD Releases Cross-Border Int'l Tax Guidance On COVID-19 Issues

Wed, Apr 15, 2020

The OECD has released guidance for national policymakers on the impact of COVID-19 on the treatment of cross-border workers and the interpretation of international tax treaty rules. ...

Tax-News.com: IRS Launches COVID-19 Employee Retention Tax Credit

Wed, Apr 15, 2020

On March 31, 2020, the United States Treasury Department and the Internal Revenue Service launched the Employee Retention Credit scheme, designed to encourage businesses to keep employees on their payroll amid the COVID-19 crisis. ...

Tax-News.com: US IRS Extends COVID-19 Relief To Gift Taxes

Wed, Apr 15, 2020

On March 27, 2020, the United States Treasury Department and the Internal Revenue Service issued a notice which extends COVID-19-related filing and payment relief to federal gift and generation-skipping taxes. ...

Tax-News.com: US Senate Passes 'Phase Three' COVID-19 Aid Package

Mon, Mar 30, 2020

On March 25, 2020, the United States Senate overwhelmingly approved the Coronavirus Aid, Relief, and Economic Security Act, which represents the third package of financial aid measures to businesses and individuals affected by the coronavirus crisis and which includes numerous tax provisions to support businesses. ...

Tax-News.com: Trump Discusses Payroll Tax Cut With Congress

Tue, Mar 17, 2020

On March 9, 2020, United States President Donald Trump revealed that the Administration would begin discussions with Congress on potential tax measures to ease the impact of the coronavirus outbreak, including a payroll tax cut. ...