IRS Allows Taxpayers to Opt Out of Facial Recognition

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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

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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

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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)

Scott S. Keen, CPA Tax Planning For Businesses, Tax Planning For Individuals, Tax Reform Leave a Comment

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

Tristan F. Spence, CPA, CVA Tax Planning For Businesses, Business Management, Tax Reform Leave a Comment

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 …