TAX SEASON 2022
Thursday, January 20, 2022 – Just as federal and state offices ready themselves to start accepting tax returns, the comptroller announces an extension to Maryland individual income tax filing and… [more]
Changes in W-2 Reporting and Reminders for 1099 Reporting for Tax Year 2021
Tuesday, December 21, 2021 – The new Taxpayer First Act includes a mandate for electronic filing of IRS forms which include W-2s. In 2022 if you file 100 or more… [more]
Tax Planning 2021 and 2022
Wednesday, December 15, 2021 – Another year of coping with a pandemic has resulted in significant tax law changes — with the possibility of more to come. Tax planning has… [more]
IRS Reminds Taxpayers of Limited-Time Donation Rules
Wednesday, December 1, 2021 – Special rules allow limited charitable deductions even for taxpayers who don’t itemize, and there are other donation changes for individuals and businesses, but these benefits… [more]
Early End to ERC Eligibility
Tuesday, November 16, 2021 – As we previously reported, included in the draft of the infrastructure bill passed by the Senate in October, was a provision to end the eligibility… [more]
What to Know About the New Lease Accounting Standard
The effective date for private companies to comply with Accounting Standards Codification 842 is on the horizon. The new standard clarifies definitions and businesses will need to make sure they’re… [more]
Tax Items to Check as the Year Winds Up
It’s been a very busy year at the IRS, with many special tax changes. Below is a review of some of the top issues you will want to discuss with… [more]
We Appreciate Your Vote
…Waffles does, too! Thursday, October 28, 2021 – If you follow LSWG on social media, you may recognize our Ambassador of Light-Heartedness, Waffles, Kevin Hessler’s granddog. Waffles would like you… [more]
LONGEST. TAX. SEASON. EVER …so far
Friday, October 22, 2021 – We thought 2020 and the pandemic shutdown made for a grueling tax season. Then along comes 2021 with its ever-changing deadlines, truckloads of returns sitting… [more]
IMPORTANT Employee Retention Credit UPDATE!
Wednesday, October 20, 2021 – The infrastructure bill currently awaiting a vote in Congress includes language which would terminate Employee Retention Credit (ERC) eligibility as of September 30, 2021. We… [more]