Recognizing that the current tax season continues to be a tough time for many people due to the unusual circumstances related to the COVID pandemic, the IRS announced last week
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Maryland announced yesterday an extension of the tax income filing deadline for individuals, pass-through entities, fiduciary, and corporate income tax returns that would have been due March 15 or April
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the CA Act). The CA Act enhances and expands certain provisions of the Coronavirus Aid, Relief, and Economic
Dear Clients and Prospects: First and foremost, we are here to support you and your businesses during this challenging time. As the Covid-19 situations unfolds we continue to monitor the
The Internal Revenue Service has released a new version of the 1040 income tax form for tax year 2019, Form 1040-SR, designed specifically with senior citizens in mind. Taxpayers born
The IRS recently changed the process under which it accepts requests for verification that it has received a filed FinCEN Form 114, “Report of Foreign Bank and Financial Accounts” (FBAR).
The start of a new year also marks the start of a new tax season. Even when there aren’t any major tax overhauls at the federal or state level, there
Various dollar figures related to international tax are adjusted annually for cost-of-living increases. These adjustments reflect a measure of inflation that was revised by the Tax Cuts and Jobs Act
In a recent revenue procedure, the IRS updated two lists of countries with which the United States has agreements that require payers to report certain deposit interest paid to nonresident
Court defines “financial interest” and makes other FBAR rulings In U.S. v. Horowitz, a district court ruled on various issues regarding the Report of Foreign Bank and Financial Accounts