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IRS extends filing and payment deadline – Tax Day for individuals is extended to May 17, 2021

Glass Jacobson Financial Group March 18, 2021 Tax Planning For Individuals, Tax Planning For Businesses Leave a Comment

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.

Maryland state income tax filing deadline has been extended to July 15 due to COVID-related changes to tax code

Glass Jacobson Financial Group March 12, 2021 Tax Planning For Individuals, Tax Planning For Businesses, Tax Reform Leave a Comment

Maryland residents now have three extra months to file state income taxes this year because of Coronavirus pandemic-related changes to the tax code.

Employee Retention Tax Credit Covers More Businesses and Wages Under the Consolidated Appropriations Act, 2021

Barbara Carmody, CPA January 25, 2021 Tax Planning For Individuals, Tax Planning For Businesses, Tax Reform Leave a Comment

The Consolidated Appropriations Act, 2021 (the Act), signed into law on Dec 27, 2020, extends and enhances several aspects of the employee retention tax credit initially enacted under the CARES Act in 2020.

Navigating Challenges With PPP Round 2 and Employee Retention Credit

Glass Jacobson Financial Group January 20, 2021 Business Management, Glass Jacobson News, Tax Planning For Businesses, Tax Reform 2 Comments

Join this informational webinar to learn about the second round of Payroll Protection Program, the Employee Retention Credits, and how these could affect your business.

State Tax Filing Deadlines Pushed Back by MD Comptroller

Glenn Frank, CPA January 11, 2021 Tax Planning For Individuals, Tax Planning For Businesses, Tax Reform Leave a Comment

The Comptroller of Maryland has announced a new extension for filing and paying taxes and quarterly estimates.

IRS Issues Form 1099-NEC for Reporting 2020 Nonemployee Compensation

IRS Issues Form 1099-NEC for Reporting 2020 Nonemployee Compensation

Monica L. Sarver, EA January 4, 2021 Tax Planning For Individuals, Tax Planning For Businesses, Tax Reform Leave a Comment

Starting with the 2020 tax year, business taxpayers must report nonemployee compensation of more than $600 on new Form 1099-NEC instead of Form 1099-MISC.

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