March 31, 2020

Congress has recently passed three different laws providing for COVID-19 relief to employers and employees--the Families First Coronavirus Reponse Act, the Emergency Family and Medical Leave Expansion Act, and the Emergency Paid Sick Leave Act. Here are the details:

Emp...

March 31, 2020

The Maryland Department of Assessments and Taxation (SDAT) today announced that the 2020 deadline to submit Annual Reports and Personal Property Tax Returns will be automatically extended to July 15 as part of the Hogan administration’s response to COVID-19. Expiration...

March 27, 2020

The entire state of Maryland has received designation for SBA assistance. Economic Injury Disaster Loans are given in amounts up to $2m with interest rates set at 3.75% currently. The approval process takes 14-21 days, with a 5 day wait time for funds to be dispersed....

March 27, 2020

Small Businesses and nonprofits with fewer than 50 employees and annual revenues less than $5 million are eligible for grants to cover three months of cash operating expenses up to $10,000. Eligible uses of the grant include working capital to support payroll expenses,...

March 27, 2020

The IRS officially announced today that it is suspending payments due on existing installment agreements from April 1 to July 15, but interest continues to accrue on the balance. New installment agreements for people who cannot pay their balance due continue to be avai...

March 27, 2020

You may not have heard, but accounting firms are exempt from Governor Hogan's closure order. So if you need help preparing or filing your tax return, need accounting support, or need an audit, call the managing director, Jeff Morris CPA, at 240-514-4310, or email him a...

March 27, 2020

Following the lead of Steve Mnuchin at the US Treasury Department and President Trump, Maryland Comptroller Peter Franchot announced today that the 2019 filing deadline for individuals and C-corporations has been extended to July 15th from the original April 15th due d...

March 24, 2020

The deadline to file federal taxes has been moved from April 15 to July 15, Treasury Secretary Steven Mnuchin announced in a Tweet on Friday, March 20.

Mnuchin said he acted at the discretion of President Donald J. Trump.

“All taxpayers and businesses will have this add...