Blog – Page 17

3 Years of Depreciation Changes

By Bob Jennings of TaxSpeaker The questions about depreciation have become common enough that we think it is time for a central reference chart for all of us for the changes from the TCJA (9/2017), the Budget Bill (12/2019), the Families First Act (3/2020) and the CARES Act (3/2020). Depreciation changes 2018-2020 Description TCJA Effective …
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#TechTips: 2FA Scams (a.k.a SIM Card Swapping)

By Jonathan Rivlin, CPA As a part of the #WFH (Work From Home) movement, security — which has always been important — must take an even higher priority. And also helping our clients stay in business, keep up with all the new federal and state rules and programs, counseling a business owner through the notion …
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#TechTips: PracticeProtect

By Jonathan Rivlin, CPA Greetings from the zombypocalypse, my fellow practitioners! In this latest installment of TechTips, we’re going to cover an app called PracticeProtect. The reason for this is that with the rise of distributive working, aka working from home (WFH), an acronym that I didn’t know existed until a couple weeks ago, there’s …
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MSATP Education Update, Notarization Requirements Updated, & Loan Tracker Website

MSATP Education Update MSATP is modifying our 2020-2021 educational offerings to ensure that you, our valued members, stay safe during this time of uncertainty. As always, we will keep you updated on issues that matter most to you as tax and accounting professionals. Please stay tuned to our website and follow us on social media for the …
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Maryland Biz Relief Wizard, IRS Extends More Deadlines, & New Tax Relief Pages

Maryland Business Relief Wizard | Find the Right COVID-19 Support Resources for Your Business There are numerous local and national programs for businesses in need of emergency support, but understanding which options are relevant for your organization can be a challenge. The Maryland Business Relief Wizard is a tool that helps connect businesses with the resources …
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Paycheck Protection Program

Click the links below to download documents you need. Paycheck Protection Program – Borrower Application Form Paycheck Protection Program – Checklist of Documents Required

Maryland Stay-At-Home Order

MSATP’s Position on the Stay-At-Home Order All persons living in the State of Maryland are ordered, effective as of 8:00 p.m. on March 30, 2020, to stay in their homes or places of residences (20-03-30-01). Tax preparation, accounting, payroll, and bookkeeping are still essential businesses. However, it may be necessary for these businesses to provide …
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People First Initiative, State Tax Filing Guidance, & DE & WV Filing Deadlines

IRS Unveils New People First Initiative | COVID-19 Effort Temporarily Adjusts, Suspends Key Compliance Programs (IR-2020-59) To help people facing the challenges of COVID-19 issues, the IRS announced a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions. These new …
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Families First Coronavirus Response Act (FFCRA) FAQs

By Bob Jennings of TaxSpeaker When is the effective date of the FFCRA? The Department of Labor announced that the paid leave provisions are effective on 4/1/2020 and apply to leave taken between 4/1/2020 and 12/31/2020. I have heard you say this is mandatory for all employers, even if I only have 1 employee. …
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PA Filing Deadline Extended, IRS Q&A, MD Tax Preparers Deemed “Essential Service”

Pennsylvania Extends Personal Income Tax Return Filing Deadline to July 15, 2020 The Department of Revenue today announced the deadline for taxpayers to file their 2019 Pennsylvania personal income tax returns is extended to July 15, 2020. This means taxpayers will have an additional 90 days to file from the original deadline of April 15. …
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