Resources

Helpful Links and Tax Refund Information

PA Annual Report Filing Deadlines:

All Corporations (business and nonprofit; domestic and foreign) – due June 30th of each year

All Limited Liability Companies (LLCs) (domestic and foreign) – due September 30th of each year

All Limited Partnerships (LPs), Limited Liability Partnerships (LLPs), Business Trusts, & Professional Associations (domestic and foreign) – due December 31st of each year

These can be filed at the “PA Business Filing Services” link listed below, or BKY Financial can prepare the report for you for a fee.

Important Notices from the IRS

Executive Order 142147

- Refunds and Payments – The IRS will no longer be issuing paper checks for federal refunds, and will no longer be accepting paper checks for federal payments (including tax return, estimated, & extension payments). Please note: This change does NOT affect the State governments.

One, Big, Beautiful Bill Act (H.R.1)

- Overtime and Tips – overtime and tip wages will qualify for an additional deduction. For overtime, you may deduct “the pay that exceeds your regular rate of pay” up to $12,500 ($25,000 for joint filers). For tips, a W2 employee can deduct up to $25,000; and someone “self-employed” cannot have the deduction exceed their net income from the trade/business in which the tips were earned. Please note: both deductions do have a phase out.
  - - If you work for OVERTIME OR TIPS, please include a copy of your last paystub of 2025 for the applicable job along with your W2 as this information may not be reported properly.
- Car Loan Interest – you may deduct interest paid on a loan used to purchase (NOT lease) a qualified vehicle. The vehicle must be for personal use ONLY, bought in 2025 or later with a loan originated in 2025 later, brand new in 2025 (not a used vehicle), and have had undergone final assembly in the United States.
- Deduction for Seniors –seniors age 65 and older can receive an additional deduction of $6,000. The deduction begins phasing when your modified adjust gross income reaches $75,000 ($150,000 for joint filers).
- “Trump Accounts” – parents and legal guardians can establish a new type of individual retirement account for an eligible child referred to as a “Trump Account”. You can elect to sign up for this account when filing your 2025 income tax return. Signing up is completely optional and can also be done on your own through an online portal (opening summer 2026). Please visit irs.gov/trumpaccounts or trumpaccounts.gov for additional information.