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Professional Tax Preparer’s Guide

Professional Tax Preparer s Guidesave timefile Local earned income Tax 2022 Filing Season 2022. Keystone Collections Group. All Rights Reserved. 2 Part-year worksheet ..4 Married, filing jointly ..5 Line 1: Gross Compensation - PA taxable wages ..6 Line 9: PSD codes and local tax liability ..7 Line 10: EIT withheld from payroll - resident and non-resident withholding ..8 Line 12: Credit for taxes paid out-of-state ..9 Calculating and applying credit for income tax paid out-of-state ..10 Case study: PA resident employed in New York State ..11 Taxable wages reported to New York on W-2 ..12 Calculating PA wages reported to New York on W-2 ..13 Applying out-of-state credits ..14 Line 12: Credit for tax paid to an out-of-state municipality ..15 Line 13: Payment and credits ..16 Line 14 and 15: Overpayment, refunds, transferable credits.

If you are retired and are no longer receiving a salary, wages or income from a business, you may not owe an earned income tax. Social Security payments, payments from qualified pension plans, interest and/or dividends accrued from bank accounts and/or investments are not subject to local earned income tax.

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Documents from same domain

CLGS-32-3 (1-19) QUARTERLY ESTIMATED Local Earned …

keystonecollects.com

3rd QUARTER Estimated Local Earned Income Tax Due date: 10/15/2021 2021 Resident PSD Code Work Location PSD Code TRIM ALONG DOTTED LINE CLGS 32-3 (1-19) Name Address City State & Zip.00.00.00.00.00.00 If you have no earned income, state the reason: retired / homemaker / student / disabled / temporarily unemployed /other (please specify):

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CLGS-32-1 (10-20) TAXPAYER ANNUAL LOCAL EARNED …

keystonecollects.com

LINE 10: LOCAL EARNED INCOME TAX WITHHELD WORKSHEET Complete worksheet if you work in an area where the non-resident tax rate exceeds your home resident rate (1) Local Wages W-2 Box 16 (2) Tax Withheld W-2 Box 19 (3) Resident EIT Rate Tax Form Line 9 (4) Workplace Location “Non-Resident” EIT Rate (5) Column (4) minus Column (3) If less than ...

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CLGS-32-1 (10-21) TAXPAYER ANNUAL LOCAL EARNED …

keystonecollects.com

Philadelphia or out-of-state withholdings: If the tax was withheld to Philadelphia, to a state other than Pennsylvania, and/or to an out-of-state municipality that imposes a local income tax, enter applicable amount on Line 12, as allowed by law. See instructions for Line 12. Use e-file to automatically enter the correct figure on Line 10.

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CLGS-32-5 ( Keystone Collections Group EMPLOYER …

keystonecollects.com

CLGS-32-5 (10EMPLOYER QUARTERLY RETURN for Local Earned Income T-19) ax Withholding(11)EMPLOYEE’S SOCIAL SECURITY NUMBER (12) EMPLOYEE’S NAME/ADDRESS Check box if making corrections to EMPLOYEE’S Name/Address, SSN, or Resident PSD (NO PO BOXES) (13)GROSS

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Keystone Collections Group

keystonecollects.com

Local Services Tax If you work in Pennsylvania, you are required to report and pay the Local Services Tax (LST) to your Business Municipal Location. Use the voucher(s) to pay the tax if you are: • Self-employed • Working from home • Employed in Pennsylvania, but your employer does not withhold your Local Services Tax

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By law, if you are paid to prepare a tax return or claim for refund claiming one or more of the following tax benefits, you must meet four due diligence requirements. The tax benefits are the earned income tax credit (EITC), the child tax credit (CTC), the additional child tax credit (ACTC), the credit for other dependents (ODC), the American opportunity tax credit (AOTC),

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The earned income credit rules tend to be fairly complex, and that complexity can result in errors that may be expensive for both the taxpayer and the tax return preparer. The rules concerning a taxpayer’s eligibility for the earned income credit include: • Rules that apply to everyone;

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www.crosslinktax.com

Earned Income Ranges to Receive the Maximum EIC Maximum EIC Amount EIC Phaseout Limit AT LEAST BUT LESS THAN No Children $9,800 $11,650 $1,502 $21,430 One Child $10,600 $19,550 $3,618 $42,158 Two Children $14,950 $19,550 $5,980 $47,915 Three or More Children $14,950 $19,550 $6,728 $51,464 2021 EARNED INCOME CREDIT

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www.irs.gov

are separated from your spouse in one of the ways listed in Pub. 596, Earned Income Credit (EIC). Caution: If you are a nonresident alien or your spouse is a nonresident alien, see Publication 519, U.S. Tax Guide for Aliens, on how to answer

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www.eitc.irs.gov

the Earned Income Tax Credit (EITC), to also cover the Child Tax Credit (CTC) and the American Opportunity Tax Credit (AOTC). All paid tax return preparers who determine the eligibility for, or the amount of, the EITC, CTC or the AOTC are now subject to the refundable credit due diligence requirements and the penalties for failure to comply

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Department of the Treasury Internal Revenue Service 01/26 ...

www.eitc.irs.gov

• Complete and send Form 8867, Paid Preparer's Due Diligence Checklist, with every return you prepare claiming any of the benefits listed above. • Complete all worksheets, or equivalents, showing how you computed the credits claimed on a return or amended return.

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taxces.com

2 Chapter 1 – Earned Income Credit Rules Introduction The earned income credit—usually referred to simply as “EIC” or “EITC”—is a tax credit for certain low-income working taxpayers who meet income, filing status and other requirements.

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2020 DELAWARE Non-Resident Individual Income Tax …

revenuefiles.delaware.gov

6. A signed copy of other state’s income tax return(s), if you claim credit for taxes paid to another state. Do use the amount NOT from your W-2 form(s). 7. A copy of Form 1100S, Schedule A-1, if you take a credit for taxes paid by an S corporation. 8. A copy of Form DE2210, pages 1 and 2, if you completed Part 3

  Income, Direct, Individuals, Resident, 2200, Delaware, S income, 2020 delaware non resident individual income tax

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