PA SIT Tax Treatment of Dependent Care Assistance Plan Contributions
Summary:
Hi All,
Does any one know when Oracle will release a vertex update for "PA SIT Tax Treatment of Dependent Care Assistance Plan Contributions"
Here is the high level requirement:
PA SIT Tax Treatment of Dependent Care Assistance Plan Contributions -
We wanted to make you aware of recent tax code modifications made by the Pennsylvania Department of Revenue (Agency) and
how they affect Dependent Care Assistance Plan (DCAP) contributions. Under the new tax code, contributions made to a DCAP up
to $5,000 are excluded from Pennsylvania State Income Tax (SIT) and Pennsylvania Local Earned Income Taxes (EIT).
Thanks,
Pritam Narayan