Another COVID challenge requiring patience: Filing income tax returns!
Friday, April 9, 2021 – The Federal tax filing and payment deadline has been extended to May 17, 2021; Maryland to July 15, 2021. Although tax filing deadlines have been… [more]
IRS Extends Tax Filing Deadline for Individuals to May 17, 2021
Thursday, March 18, 2021 – The Treasury Department and IRS announced yesterday that the federal income tax filing due date for individuals for the 2020 tax year will be automatically… [more]
BREAKING NEWS: Maryland Extends April 15 Deadline
Thursday, March 11, 2021 – Today Maryland Comptroller Peter Franchot announced that he is extending the state income tax filing deadline by three months: to July 15, 2021. As of… [more]
Update on the Employee Retention Credit and Its Expanded Opportunities for Businesses
By Angela K. Murphy, CPA, Manager On March 1, 2021, the IRS released Notice 2021-20 which further clarified and provides examples for the employee retention credit (ERC)–created by the CARES Act in… [more]
Maryland Business Taxpayer Alert!
Remember when we shared with you the good news regarding the Maryland 523 tax payments? Well, the chickens are coming home to roost now. Last week, Maryland advised tax preparers… [more]
Inside LSWG – February 2021
We are pleased to announce two new staff members have joined the LSWG team. Join us in welcoming… We’re pleased to announce the return of a familiar face. Sheron S. Kominos,… [more]
Maryland’s Small Businesses Receive Additional Aid in the RELIEF Act of 2021
By David A. Wolford, CPA, LSWG Supervisor On Monday, February 15, 2021, Maryland signed into law the RELIEF Act of 2021. Included in the law are a number of provisions… [more]
Employers: Watch Out for Fraudulent Unemployment Claims
In July of 2020, Maryland uncovered 47,500 fraudulent unemployment claims ($501 million in benefits), part of a nationwide scam. While Maryland Governor Larry Hogan reported that none of the fraudulent… [more]
Net Operating Loss Carrybacks Are a Welcome Return for Taxpayers
By Dwight Baumgardner, CPA, LSWG Manager Included in the CARES Act signed into law last March, were changes to the tax treatment of business net operating losses (NOLs) for corporations… [more]
Jamie Iseminger, CPA, Joins LSWG
LSWG is pleased to announce the addition of Jamie Iseminger, CPA, to LSWG’s principal group. An accomplished CPA with over 20 years of public accounting and audit experience, Jamie Iseminger… [more]