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MSATP Comments on AICPA Letter to IRS  MSATP supports the AICPA’s letter asking the IRS to push back the Sept 30 filing deadline for taxpayers to receive penalty relief under of IRS Notice 2022-36. The notice was issued August 24 and provides automatic relief from failure to file penalties for certain 2019 and 2020 returns filed by September 30, 2022. …
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COVID Tax Relief: IRS Provides Broad-Based Penalty Relief For Certain 2019 and 2020 Returns Due to the Pandemic | IR-2022-155 To help struggling taxpayers affected by the COVID-19 pandemic, the IRS issued Notice 2022-36, which provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late. The IRS is also taking …
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In case you missed our email yesterday, check out this week’s MSATP TV: Jonathan Pocius of Payroll Services LLC discussed the new MarylandSaves program. Click the image or link below to watch the lunch and learn! Watch here: MSATP TV: Maryland Saves – YouTube   Saving For College: The 529 | By Bob Jennings, TaxSpeaker How do you save for …
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Tune in for a special episode of MSATP TV, exclusively on our YouTube Channel! Rob Smith of Liscio introduced the Accountants and Bookkeepers Co-Operative Library — a content-driven community. Click the button below to watch the episode! Watch Here: MSATP TV: Circle, The Cooperative Library for Accountants & Bookkeepers – YouTube   Imagine a library …
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Our very first Volunteer Spotlight is with Ron Grafman! Take a look at why Ron believes you should get involved with MSATP as a volunteer.   When did you join MSATP?  Ron joined MSATP in 1984. Donald Hull was president and the one who signed his certificate.   What positions have you held on the …
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From Markers to Face Masks, Classroom Supplies May Be Tax Deductible | IRS Tax Tip 2022-118 Teachers go above and beyond for their students, often buying classroom supplies needed to make learning successful. The educator expense deduction allows eligible teachers and administrators to deduct part of the cost of technology, supplies and training from their taxes. They …
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3 all-inclusive days down by the shore, 10+ hours of CPE, and access to Maryland’s top talent in the accounting and tax field. Register here! IRS Statement on balance due notices (CP-14)  The IRS is aware that some payments made for 2021 tax returns have not been correctly applied to joint taxpayer accounts, and these …
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The Comptroller is considering requiring PTEs to make the election to be taxed at the entity level on the 510D with first estimated payment of a tax year beginning after December 31, 2022. The election will be irrevocable for that tax year. The election will be made yearly.   The policy/ procedure change is intended …
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    3 all-inclusive days down by the shore, 10+ hours of CPE, and access to Maryland’s top talent in the accounting and tax field. Register here IRS Encourages Tax Professionals to Inform Clients About IP PIN Opt-In Program | IR-2022-140 The IRS and the Security Summit Partners have encouraged tax professionals to inform their clients …
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