Walsh & Associates, CPA

10/11/2023

Requested an extension to file your 2022 tax return? To avoid a possible late filing penalty, you should file your Form 1040 on or before Monday, 10/16. See: https://ow.ly/oORY50PS74q

06/15/2023

It's not too late to pay online

reminds taxpayers who make quarterly estimated tax payments that their next due date is Thursday, June 15.

For more information visit: https://ow.ly/ZKr950OJCJZ

04/05/2023

Some tax returns may take longer for the to process, including those that need a correction or are incomplete. Here are other reasons why your refund may take longer: http://ow.ly/NHIl50MS7JV

04/05/2023

Avoid tax preparers that are bad eggs. The reminds taxpayers to avoid “ghost preparers” that will prepare but refuse to sign your return as a paid preparer. Remember, the taxpayer is ultimately responsible for filing a valid and accurate return.

Dishonest tax return preparers may also:
•Require payment in cash only and not provide a receipt.
•Invent income to qualify their clients for tax credits.
•Claim fake deductions to boost the size of the refund.
•Direct refunds into their bank account, not the taxpayer's account.

Search through the IRS directory of professionally credentialed tax preparers at www.irs.gov/chooseataxpro

04/04/2023

12/14/2022

A heads up to owners: If you earn more than $600 using third-party payment cards, you may receive an Form 1099-K that you need for your 2022 tax return. This form shares income from reportable transactions using digital applications or third-party payment cards. See what this means for your Small Biz: http://ow.ly/ecZp50LkqhR

12/14/2022

If you purchase an electric vehicle in 2022, be sure to check whether you qualify for a tax credit. See updates at www.irs.gov/pluginvehiclecreditamounts

11/30/2022

Employers and employees can go to marylandsaves.com to opt out or file for an exemption. Call us if you have questions

07/28/2022

There's so many ways to save during Shop Tax-Free Week and we don't want you to miss any of them! Check out the full list of tax-exempt items:https://www.marylandtaxes.gov/divisions/comp/Shop_Maryland_Tax-free_Week/List_of_Taxable_and_Exempt_Items.pdf

02/12/2022

https://www.cnn.com/2022/02/11/success/irs-tax-letters-suspended/index.html?cid=external-feeds_iluminar_newsbreak

Imagine having filed and paid your taxes on time, then months later you get a notice in the mail from the IRS suggesting you didn't. That's what's happening to many taxpayers this year thanks to automated notices being sent out from a backlogged IRS.