Blog – Page 2

The Stop Scam Tax Preparers Act: Safeguarding Maryland Taxpayers with MSATP’s Advocacy

The Maryland Society of Accounting and Tax Professionals (MSATP) has long been a stalwart advocate for ethical practices in the tax preparation industry. Our recent triumph in supporting the passage of the Stop Scam Tax Preparers Act (Senate Bill 675) underscores our commitment to protecting Maryland taxpayers from fraudulent tax preparers who exploit the most …
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Maryland SALT Cap (2023 Update)

For the 2023 tax year, Maryland has updated its rules regarding the state tax cap on federal returns and what to do for Maryland returns. Here’s the updated information compiled from the MarylandTaxes.com website: Instructions for FORM 502 — itemized deduction calculation: “Copy the amount from federal Form 1040, Schedule A, line 17, Total Itemized …
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Maryland Society of Accounting and Tax Professionals Opposes House Bill 1515: Proposed Legislation Threatens to Burden Practices and Clients

The Maryland Society of Accounting and Tax Professionals (MSATP) strongly opposes House Bill 1515, which aims to reduce the sales tax rate while simultaneously expanding it to cover a wide range of services. If enacted, this misguided legislation would place undue burdens on accounting and tax practices, as well as on the individuals and businesses …
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Reflecting on Black History Month: The Journey Continues

As we come to the close of Black History Month, it is a poignant time for us at the Maryland Society of Accounting and Tax Professionals to reflect on the progress made and the long road ahead in the pursuit of equity, inclusion, and diversity within the accounting profession. This month has provided us with …
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Advocating for Integrity: Our Stand Against Tax Preparer Fraud

In the ongoing fight against tax preparer fraud, the Maryland Society of Accounting and Tax Professionals (MSATP) has taken a decisive stand, championing legislation that promises to enhance protections for Maryland taxpayers and uphold the ethical standards of our profession. The heart of our advocacy efforts is centered around the support for House Bill 452, …
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MSATP Announces 2024 Legislative Priorities

As we enter the legislative session this January, MSATP will be at the forefront, advocating for policies that support tax, tax preparation, and small business interests. Our 2024 Legislative Priorities are thoughtfully designed to reflect and further our mission statement. Here’s how: Business Tax Environment: We stand against complex tax rules like the throwback rule …
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Understanding the Recent Changes to the Employee Retention Credit (ERC)

The Employee Retention Credit (ERC) has been a significant topic of discussion in the financial community in recent months. The Internal Revenue Service (IRS) recently spotlighted a concerning trend of aggressive promotion and scams connected with the credit. Unfortunately, many well-intentioned businesses have fallen victim to such “ERC mills,” resulting in a web of inaccuracies …
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Celebrating with Purpose: Anticipation Builds for MSATP’s Second Annual Holiday Soiree

The holiday season is often marked by festive gatherings, heartwarming moments, and memorable celebrations. And when the Maryland Society of Accounting and Tax Professionals (MSATP) announces a party, one can be sure it won’t just be about the festivities. As we look ahead, the Second Annual Holiday Soiree by MSATP promises to be an event …
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Building a Strong Hispanic Accountant and Tax Professional Community in Maryland: A Partnership Between MSATP and Latino Tax Pro

The world of accounting and taxation is complex, fraught with regulations, client management, and endless hours of work. For small or solo firm owners, this can be especially challenging. Recognizing the unique needs of Hispanic accountants and tax professionals in Maryland, the Maryland Society of Accounting and Tax Professionals (MSATP) and Latino Tax Pro have …
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Earmark Announces Landmark Partnership with the Maryland Society of Accounting and Tax Professionals

FOR IMMEDIATE RELEASE PHOENIX, July 6, 2023 — Earmark, the only free, podcast-based continuing professional education provider for accountants, is thrilled to announce its first society partnership with the Maryland Society of Accounting and Tax Professionals (MSATP). Effective July 6, 2023, this strategic collaboration offers an enhanced Unlimited Subscription as a benefit to all MSATP …
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