This originally appeared on IRS.gov. The IRS announced today that a new option in the agency’s authentication system is now available for taxpayers to sign up for IRS online accounts …
Maryland Joins 3 Other States to Petition Over the SALT Cap
Four states have petitioned the U.S. Supreme Court to take up the issue of federalism as it applies to the federal cap on state and local tax (SALT) deductions. In …
Gov. Hogan Introduces More Tax Relief for Individuals and Businesses
On January 19, Maryland Gov. Larry Hogan presented a $58.2 billion budget proposal based on an unprecedented level of surpluses and revenue growth for the state. The plan proposes generous …
More States Adopt the Pass-Through Entity (SALT Cap Workaround)
With the passage of the 2017 Tax Cuts and Jobs Act (TCJA), many higher earners were hit with a rude surprise. The TCJA placed a $10,000 cap on allowable state …
Employee Retention Credit Ends With New Infrastructure Bill
The $1.2 trillion Infrastructure Investment and Jobs Act signed into law by President Biden contains a provision effectively ending the Employee Retention Credit, also known as the Employee Retention Tax …
IRS extends filing and payment deadline – Tax Day for individuals is extended to May 17, 2021
The federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will provide formal guidance on this matter in the next few days.
