The Commonwealth of Massachusetts will offer a limited tax amnesty for certain “eligible taxpayers” from Nov. 1 through Dec. 30.
“Eligible taxpayers” can forward and bring their tax liabilities up to date and receive a...more
The Virginia Business Professional and Occupational License (BPOL) is a local level tax levied on businesses’ gross receipts. Rates typically range from $0.03 to $0.58 per $100 of gross receipts, depending on the locality and...more
Maryland Comptroller Brooke Lierman issued a letter Feb. 28 to address the challenges and concerns of tax practitioners regarding the policy and procedural changes to pass-through entity (PTE) filings and payments. Most...more
As the Virginia General Assembly’s session nears its conclusion, lawmakers continue to revise the two-year state budget that may create significant alterations to the state’s current taxing scheme, particularly in the areas...more
The Maryland Comptroller’s Office issued a Tax Alert on April 11, 2023 addressing policy and procedural changes to pass-through entity (PTE) filings and payments. For tax years beginning after Dec. 31, 2022, PTEs are required...more
A recent change in Virginia law may impact many individual taxpayers. Effective for taxable years beginning on or after January 1, 2022, individual taxpayers who make estimated income tax payments must submit all payments...more
This is an update to our prior blog posts regarding Federal and Maryland State tax deadlines.
The Comptroller recently announced that Maryland individual taxpayers who pay estimated quarterly taxes may defer payments for...more
Federal Corporate and Individual Income Tax Deadlines -
The federal filing deadline for 2021 for calendar year end corporate income tax returns (IRS Form 1120) and individual income tax returns (IRS Form 1040) is Monday,...more
In late 2020, the IRS issued a notice confirming imminent proposed regulations that would allow certain tax strategies to avoid the individual $10,000 state and local tax (“SALT”) deduction limitation of the Tax Cuts and Jobs...more
On January 19, 2022, Maryland Comptroller Peter Franchot announced an extension for the State’s individual income tax filing and payment deadline for tax year ending 2021. The announcement was made via a virtual news...more
Updates and negotiations for President Biden’s tax plan continue to filter through Congress. The House Ways and Means Committee recently passed the Build Back Better Act (the “Act”), and it is now on its way for the Senate’s...more
Big tax changes are on the way! President Biden, the House, and the Senate all seem to have their own agenda, but the proposal introduced by the House Ways and Means Committee (the “Proposal”) is a good starting point for...more
9/22/2021
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