Tax Due Date Extended !

Tax Due Date Extended !

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be...
Stimulus Check, Round 3

Stimulus Check, Round 3

Today many taxpayers woke up to find they had more money in their bank accounts thanks to the Third Round of Stimulus checks. On March 11 President Biden signed the American Rescue Act (ARA) into law. The ARA provides up to $1,400 for eligible taxpayers ($2,800 per...
House Stimulus Bill

House Stimulus Bill

On February 27, 2021 the House of Representatives passed their $1.9 trillion stimulus plan. The bill was sent to the Senate and a vote is expected as early as Wednesday, March 3, 2021. Here are some of the key provisions in the House bill: Recovery rebates The House...
THE RELIEF ACT

THE RELIEF ACT

Last Monday (02/15/21) Governor Hogan signed THE RELIEF ACT. Here are a few key highlights: 1) Direct payments to Marylanders who filed for the earned income credit in 2019. 2) Payments of $1,000 to individuals with unsettled unemployment claims. 3) Repeal state and...
Potential for another delayed busy season

Potential for another delayed busy season

One consequence of the late passing to the new act is the potential for the delaying of the opening of tax filing season. Normally the IRS begins to accept electronically filed tax returns around January 27. However, with the changes in the new act, it is possible...