Webinars – Page 2

News for Your Week Ahead: August 12, 2021

Posted on August 12, 2021March 12, 2024 by Walter Moore

MSATP President Barbara joined us to tell us about her upcoming seminar and webinar, Payroll and 1099 Forms on December 13, 2021.

Watch on YouTube.

Coming Up: On Wednesday, August 18 at 10 a.m., Bob Jennings will join us to tell us about the upcoming TaxSpeaker classes during the fall seminar season.

Be sure to Like/Follow us on Facebook so you can catch MSATP TV live every week.

Employee Retention Credit – The Latest Guidance | TaxSpeaker

The IRS has released Notice 2021-49 regarding the application of the rules for the Employee Retention Credit under the American Rescue Plan which extended the credit for wages paid before January 1, 2022, and answering some questions that practitioners have asked with regard to the application of the credit. However, the ERC does not have a large utilization, so Congress is looking at ending the credit as of September 30, 2021, as part of the infrastructure legislation for all employers other than Recovery Startup businesses.

For more information, click here.

Security Summit Warns Tax Pros to be Wary of Pandemic-Related Email Schemes | IR-2021-166

In a continuing twist on a common scam, the IRS, state tax agencies, and tax industry today warned tax professionals to beware of evolving phishing scams that use various pandemic-related themes to steal client data.

The Security Summit partners continue to see instances where tax professionals, especially those who engage in remote transactions, have been vulnerable this year to identity thieves posing as potential clients. The criminals then trick practitioners into opening email links or attachments that infect computer systems.

For more information, click here.

Treasury, IRS Provide Gross Receipts Safe Harbor for Employers Claiming the Employee Retention Credit | IR-2021-167

The Department of the Treasury and the IRS issued a safe harbor allowing employers to exclude certain items from their gross receipts solely for determining eligibility for the Employee Retention Credit (ERC).

Revenue Procedure 2021-33 provides a safe harbor permitting employers to exclude certain amounts from gross receipts solely for determining eligibility for the ERC. These amounts are:

The amount of the forgiveness of a Paycheck Protection Program (PPP) Loan;
Shuttered Venue Operators Grants under the Economic Aid to Hard-Hit Small Businesses, Non-Profits, and Venues Act; and
Restaurant Revitalization Grants under the American Rescue Plan Act of 2021.

For more information, click here.

Work Opportunity Tax Credit (WOTC) Transition Relief Under Internal Revenue Code § 51 | N-2021-43

Notice 2021-43 provides transition relief for employers that hire or hired certain individuals residing in empowerment zones and who begin work on or after January 1, 2021, and before the date that is 60 days from the date of publication of the notice. Section 51 of the Code provides employers with a work opportunity credit for hiring certain individuals certified by a Designated Local Agency (DLA) to be a member of a targeted group listed in section 51(d). Employers must receive, on or before the day on which such individual begins work for the employer, a certification from a DLA that such individual is a member of a targeted group or must request certification that the individual is a member of a targeted group by submitting Form 8850 (Pre-Screening Notification and Certification Request for the Work Opportunity Credit) to a DLA within 28 days of that individual beginning work.

For more information, click here.

Tax Security Tip: Get an IP PIN to Help Stop Identity Thieves | Tax Tip 2021-116

The IRS and its Security Summit partners recently kicked off their annual summer campaign. This year’s theme, Boost Security Immunity: Fight Against Identity Theft, urges tax pros to step up their efforts to protect client data. An IP PIN is a valuable tool that can help in this effort and it is now available to anyone who can verify their identity.

An Identity Protection PIN is six-digit number eligible taxpayers get to help prevent their Social Security number or Individual Taxpayer Identification Number from being used to file fraudulent federal income tax returns. This number helps the IRS verify a taxpayer’s identity and accept their tax return. The Get An IP PIN tool enables anyone who has an SSN or ITIN to get an IP PIN after they verify their identity through a rigorous authentication process. Taxpayers should review the Secure Access requirements before they try to use the Get An IP PIN tool.

For more information, click here.

News for Your Week Ahead: August 5, 2021

Posted on August 5, 2021March 12, 2024 by Walter Moore

First Vice President Ana Barnabe tells us all about the benefits of an MSATP membership including free ethics CPE, Talking With TaxSpeaker, and more.

Watch on YouTube.

Coming Up: On Wednesday, August 11 at 10 a.m., MSATP President Barbara Smith will join us to discuss her Payroll and 1099 Forms seminar/webinar in Ellicott City, MD on December 13.

Be sure to Like/Follow us on Facebook so you can catch MSATP TV live every week.

Agency Collection Activities to Resume August 16 | Comptroller of Maryland

Comptroller Peter Franchot announced that the Comptroller’s Office will resume collection activities beginning August 16, 2021.

Collection and licensing activities have been on hold as a result of Executive Orders issued by Governor Larry Hogan in response to COVID-19, but those activities were to resume no later than June 30, 2021.

At the Comptroller’s request, in recognition of the financial struggles of Maryland individuals and businesses resulting from the pandemic, as well as the role that his agency played in administrating and assisting in pandemic relief programs, Governor Hogan granted an additional extension through August 15, 2021.

For more information, click here.

IRS Reminds Heavy Vehicle Owners of August 31 Highway Use Tax Return Deadline | IR-2021-164

The IRS reminds those who have registered, or are required to register, large trucks and buses that it’s time to file Tax Year 2021 Form 2290, Heavy Highway Vehicle Use Tax Return. The deadline to file and pay is Aug. 31, 2021, for vehicles used on the road during July 2021.

The highway use tax applies to highway motor vehicles with a taxable gross weight of 55,000 pounds or more. Taxpayers unsure if they must file can use the IRS online tool, “Do I Need to Pay the Heavy Highway Vehicle Use Tax?” The question-and-answer format helps owners determine if they are required to pay the highway use tax. The “Understanding Form 2290 – Heavy Highway Vehicle Use Tax” recorded webinar is also available.

For more information, click here.

Security Summit: Tax Pros Can Help Clients Battle Identity Theft Risk Related to Unemployment | IR-2021-163

IRS Security Summit partners outlined for tax professionals how they can assist clients who were victims of unemployment compensation fraud schemes that targeted state workforce agencies in 2020 and 2021.

The IRS, state tax agencies, and the tax industry – working together as the Security Summit – reported that unemployment compensation fraud was one of the more common identity theft schemes that emerged in 2020 as criminals exploited the COVID-19 pandemic and the resulting economic impact.

For more information, click here.

Information for FIRE Users | Issue Number: 2021-11

The IRS will be making significant improvements to the Filing Information Returns Electronically (FIRE) application process for new users. The new online Information Returns (IR) Application for Transmitter Control Code (TCC) is scheduled to deploy on September 26, 2021. The new application will be available on IRS.gov and will replace both the current Form 4419 and the Fill-in Form 4419 on the FIRE System.

New users will be required to authenticate their identities and create a new account through IRS Secure Access Account to access the new online IR Application for TCC. Details on what users need to verify their identities can be found at www.IRS.gov/SecureAccess. Existing Secure Access (SA) users will be able to use their existing SA account.

For more information, click here.

News for Your Week Ahead: July 29, 2021

Posted on July 29, 2021March 12, 2024 by Walter Moore

Connie Hess and Marc Reibman of USB Payment Processing join us to discuss their new cash flow management program Merchant as a Service.

Watch on YouTube.

Jonathan Rivlin joins us to tell us about his upcoming seminar and webinar, Firm of the Future on October 21st in Columbia, MD, or virtually.

Watch on YouTube.

Coming Up: On Wednesday, August 4th at 10 a.m., First Vice President Ana Barnabe will join us to tell us all about all the benefits of an MSATP membership! Are you certain you are taking full advantage of your membership? If not, tune in to find out about your benefits!

Be sure to Like/Follow us on Facebook so you can catch MSATP TV live every week.

NFIB: Senate Bill Limiting Small Business Deduction Will Hurt Small Business

The Hill reported that Senate Finance Committee Chairman Ron Wyden (D-Ore.) “released a bill that would overhaul a deduction for noncorporate business income that was created by Republicans’ 2017 tax law.” NFIB Vice President of Federal Government Relations Kevin Kuhlman “said in a statement that Wyden’s bill ‘would directly hurt small businesses’ ability to hire, invest in their businesses, and increase employees’ compensation, and threatens the fragile economic recovery.’”

For more information, please click here.

Security Summit: Tax Pros Should Encourage Clients to Obtain IP PINs to Protect Against Tax-Related Identity Theft | IR-2021-158

Internal Revenue Service Security Summit partners called on tax professionals to increase efforts to inform clients about the Identity Protection PIN Opt-In Program that can protect against tax-related identity theft.

The IRS, state tax agencies, and the nation’s tax industry – working together as the Security Summit – need assistance from tax professionals to spread the word to clients that the IP PIN is now available to anyone who can verify their identity.

For more information, click here.

Guidelines for the Application of the Retail Sales and Use Tax to Sales of Accommodations Facilitated by Accommodations Intermediaries

Effective September 1, 2021, Senate Bill 1398 (2021 Acts of Assembly, Special Session I, Chapter 383) changes the application of the Retail Sales and Use Tax to sales of accommodations facilitated by accommodations intermediaries. The legislation makes similar changes to the local transient occupancy tax. Additionally, these changes will apply to the state-imposed transient occupancy taxes that fund transportation purposes in certain localities under Va. Code § 58.1-1743 and Va. Code § 58.1-1744 because these taxes are administered by local governments in the same manner as their local transient occupancy taxes. Virginia Tax has issued guidelines to provide processes and procedures for implementing the provisions of Va. Code §§ 58.1-602, 58.1-603, and 58.1-612.2, relating to the Retail Sales and Use Taxation of accommodations, as required by Senate Bill 1398.

For more information, click here.

Here’s what Taxpayers Need to Know About Higher Education Tax Credits | Tax Tip 2021-106

As a new school year approaches, students are considering what classes they need to take and how much the classes will cost. Whether it’s community college, a trade school, a four-year university or an advanced degree, higher education is expensive. The good news is tax credits can help offset these costs.

These credits reduce the amount of tax someone owes. If the credit reduces tax to less than zero, the taxpayer could even receive a refund.

For more information, click here.

Franchot Announces Shop Maryland Tax-Free Week, August 8-14 | Comptroller of Maryland

Comptroller Peter Franchot has announced that Shop Maryland Tax-Free Week returns August 8-14 with significant savings for consumers, scholarship opportunities for college and trade school students, and a much-needed sales boost for retailers.

“Tax-free week is a rite of Maryland’s late summer, signaling the approach of a new school year, cooler weather and a change of wardrobe,” Comptroller Franchot said. “Maryland’s high vaccination rates means life is beginning to return to normal. While I continue to urge caution, Marylanders should take advantage of tax-free week savings and support locally owned businesses that have been hit hard during the pandemic.”

For more information, click here.

Tax Tips for Students Working Summer Jobs | Tax Tip 2021-108

During the summer many students focus on making money from a summer job. They may want to gain work experience, earn some spending money or help pay for college. Here are some facts all student workers should know about summer jobs and taxes.

Not all the money they earn will make it to their pocket because employers must withhold taxes from their paycheck.

For more information, click here.

Special Edition of e-News for Small Business – Information for FIRE Users | Issue Number: 2021-11

For more information, click here.

A Zoom Secret?

Posted on June 17, 2021March 12, 2024 by Walter Moore

by Walter Moore

While things are slowly returning to normal, one thing from the pandemic that will continue is virtual meetings and webinars. While we discussed in a previous blog, ways to increase the resolution of your Zoom meetings, one secret I was not aware of, had been brought to my attention by Ryan Jennings of TaxSpeaker (thanks Ryan). They have a hidden HD setting that you do not control. Interesting right?

So for most with professional plans or business plans your max resolution is in fact 640p which they classify as “HD.” Now to the average consumer we think of an HD resolution as 720p or 1080p with the “Super HD” settings being 4K and now 8K. To get to the new 720p and higher resolution settings you will have to chat/call Zoom and request the higher resolutions. Currently, for their professional plan that is 720p, and for the business plan they offer a 1080p resolution. You will still need a camera and a good connection to give you the best resolution, but this is something to think about for your meetings. If you’re paying for Zoom you might as well get all you’re paying for.

If you have any questions please feel free to reach out to Walter by clicking here.

News for Your Week Ahead: June 11, 2021

Posted on June 11, 2021March 12, 2024 by Walter Moore

On this weeks’ episode of MSATP TV, Ellen Silverstein and Brian Chrest join Executive Director Bill Feehley to tell us about one of our Signature Programs the Business Builder’s Think Tank (BBTT). If you interested in joining one of our Business Builder’s Think Tank groups please click here to register for one of the upcoming meetings!

Watch on YouTube.

Coming Up: On Thursday, June 17th at 10 a.m., we will have Jerry Lotz with CostSeg joining us to tell us how CostSeg can help you and your clients. Please follow us on Facebook to see this episode and more!

Thank You to All Who Joined Us Both In Person and Virtually at Our Annual Convention & Banquet

While the past year was rather difficult, MSATP was very excited and happy for all those who joined us both in-person and virtually for the MSATP Annual Convention and Banquet. This years’ event offered 15 hours of CPE from John Kennedy, Bob Jennings, Ryan Jennings, Bill Leonard and Rob Smith! We were excited to see old faces and new that joined us and enjoyed their time with us in Ocean City, MD.

At the convention we handed out many awards and would like to congratulate all for their excellence and achievement.

To see a full recap of our award winners, please click here.

IRS Sending More Than 2.8 Million Refunds to Those Who Already Paid Taxes on 2020 Unemployment Compensation | IR-2021-123

The Internal Revenue Service is sending more than 2.8 million refunds this week to taxpayers who paid taxes on unemployment compensation that new legislation now excludes as income.

IRS efforts to correct unemployment compensation overpayments will help most affected taxpayers avoid filing an amended tax return. So far, the IRS has identified 13 million taxpayers that may be eligible for the adjustment. Some will receive refunds, which will be issued periodically, and some will have the overpayment applied to taxes due or other debts. For some there will be no change.

The American Rescue Plan Act of 2021 (ARPA) excluded up to $10,200 in unemployment compensation per taxpayer paid in 2020. The $10,200 is the maximum amount that can be excluded when calculating taxable income; it is not the amount of refunds.

For more information, click here.

IRS Sending Letters to More Than 36 Million Families Who May Qualify for Monthly Child Tax Credits; Payments Start July 15 | IR-2021-124

The Internal Revenue Service has started sending letters to more than 36 million American families who, based on tax returns filed with the agency, may be eligible to receive monthly Child Tax Credit payments starting in July.

The expanded and newly-advanceable Child Tax Credit was authorized by the American Rescue Plan Act, enacted in March. The letters are going to families who may be eligible based on information they included in either their 2019 or 2020 federal income tax return or who used the Non-Filers tool on IRS.gov last year to register for an Economic Impact Payment.
Families who are eligible for advance Child Tax Credit payments will receive a second, personalized letter listing an estimate of their monthly payment, which begins July 15.

Most families do not need to take any action to get their payment. Normally, the IRS will calculate the payment amount based on the 2020 tax return. If that return is not available, either because it has not yet been filed or it has not yet been processed, the IRS will instead determine the payment amount using the 2019 return.

For more information, click here.

IRS Procurement Office to Hire 80 New Employees Nationwide, Including Contract Specialists | IR-2021-126

The Internal Revenue Service is looking to hire motivated acquisition professionals interested in providing America’s taxpayers top quality service. The agency’s Procurement office plans to fill 80 vacancies nationwide, many of which are contract specialists.

The IRS Procurement office provides acquisition services for IRS business units, Treasury departmental offices and Information Technology for the Bureau of Engraving and Printing. The office administers all aspects of the acquisition process from planning, contract award, management and closeout. IRS Procurement’s goal is to create agile and innovative best value contract solutions to ensure the IRS meets its mission.

For more information, click here.

Live IRS Webinars in June; Register Now for the 2020 IRS Tax Forum; Join HR Zoom Sessions for IRS Job Openings

The IRS Tax Exempt & Government Entities would like to invite you to watch two live webinars we have scheduled this month.

1) Applying for Exemption

When: June 23, 2021, at 1:00 pm ET

Learn about:

Steps to take before applying to the IRS for tax-exempt status
Types of tax-exempt status available and forms used to request them
How to apply for tax-exempt status and tips to shorten the application process

Register: Register now for this free webinar

2) Reporting Election Workers Earnings

When: June 24, 2021, at 1:00 pm ET

Learn about:

Workers who should be treated as election workers
Taxes that should be withheld from election worker wages
Amounts to include in earnings

Register: Register now for this free webinar

Questions: Email questions to TEGE.outreach@IRS.gov with “Pre-submitted questions for Election Worker webinar (June 24)” in the subject line. We’ll include the answer in the presentation or separately as time permits.

IRS Virtual Nationwide Tax Forum

The 2021 Virtual Nationwide Tax Forum will consist of 30 live-streamed webinars between July 20 and August 19, 2021. Register by June 15 at 5:00 pm ET to get the $240 Early Bird rate before the price increases to $289.

It’s a great way to earn up to 28 hours of CE credits while getting the latest information on tax law, cybersecurity and more. And you can visit the IRS booths in the Virtual Exhibit Hall, including the TE/GE booth, where you can find other information and chat with the IRS.

TE/GE is presenting two topics at this year’s virtual Tax Forum:

Charities & Tax-Exempt Organizations Update: Learn about recent law and guidance changes and how those changes may affect your charity. Also, learn about the current electronic filing requirements for returns filed by charities and more.
Retirement Plans – IRS Compliance Initiatives: Learn about the latest IRS compliance initiatives for retirement plans and what to do if your client receives a letter from the IRS about their plan. Use our audit experience to identify and avoid common mistakes in plans.

Information Sessions on IRS Hiring

Did you know the IRS is hiring? We’re hosting virtual information sessions where you can learn more about working for the IRS.

Hear from employees currently working in these positions and learn about the day-to-day work we do at the IRS. A representative from HR will also discuss the application process and some of the requirements for the positions.

Participate in the following IRS virtual information sessions for current and future announcements for Tax Law Specialist positions:

June 10, 3-4:30 ET

Join ZoomGov Meeting

Meeting ID: 161 480 2207
Passcode: YmB9=pX#

For audio only:

669 254 5252 US (West Coast)
646 828 7666 US (East Coast)

June 17, 4-5:30 ET

Join ZoomGov Meeting

Meeting ID: 161 871 6566
Passcode: sfZw2f@W

For audio only:

669 254 5252 US (West Coast)
646 828 7666 US (East Coast)

News for Your Week Ahead: May 28, 2021

Posted on May 28, 2021March 12, 2024 by Walter Moore

On this weeks’ episode of MSATP TV Cliff Reiter of National Accounting Sales joins Executive Director Bill Feehley to tell us about how he can help you buy or sell your accounting practice!

Watch on YouTube.

Coming Up: On Thursday, June 3rd at 10 a.m., we will have our Young Professionals Leadership Program (YPLP) Capstone Project winner on to tell you about themselves and all about our Signature YPLP Program.Tune in on Facebook for this episode and more!

Just a reminder our offices will be closed next week for the Annual Convention & Banquet. We can still be reached via email at info@msatp.com, walter@msatp.org, heather@msatp.org, or kebaugh@msatp.org. Our offices will reopen on June 7th.

There is still time to register for the individual classes virtually or in person at MSATP’s Annual Convention and Banquet. Please use the button below to register!

To learn more about the convention, click here.

Bob Jennings Teaches MSATP’s First In-Person Seminar Since Start of COVID-19 Pandemic

While things in the past year have been very difficult for everyone, we did enjoy a small sense of a return to normalcy this week with our first two in person seminars in Frederick, MD with Bob Jennings! Our seating was still socially distanced and attendees got to enjoy the small round table question and answer sessions throughout the presentation.

Coming this week we have both options, both in person and virtual, for classes during the Annual Convention & Banquet in Ocean City, MD. We hope to see you there.

For more information, please click here.

Interest Rates Remain the Same for the Third Quarter of 2021 | IR-2021-120

The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2021.
The rates will be:

3% for overpayments (two (2) % in the case of a corporation),
0.5% for the portion of a corporate overpayment exceeding $10,000,
3% for underpayments and
5% for large corporate underpayments.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

For more information, click here.

Find Unclaimed Property with “The Franchot Bunch” | Annual Campaign Aims to Unite Marylanders with Their Money and Valuables

Using a popular 1970s family sitcom as this year’s theme, Comptroller Peter Franchot launched the annual unclaimed property campaign aimed at reuniting Marylanders with their money and valuable items.

The 2021 Maryland Unclaimed Property insert hits publications statewide beginning Sunday, May 30, and continuing through mid-June. This year, Comptroller Franchot joins with agency employees to form “The Franchot Bunch,” a spoof of the famous television show “The Brady Bunch” about a large, blended family.

“Unclaimed property is all about reuniting Marylanders with money or belongings that have, for various reasons, ended up in the state’s custody,” Comptroller Franchot said. “There may be stocks, rings of gold that were once your mother’s, and other items of quality. Being on the list may seem like a fantasy, but matching owners with their rightful property is truly a family effort in our agency.”

To use the Unclaimed Property database, click here.

The American Rescue Plan Includes Retroactive Tax Benefits That Can Help Taxpayers | COVID Tax Tip 2021-74

The IRS reminds taxpayers who still haven’t filed, that several provisions of the American Rescue Plan affect their 2020 tax returns.

One provision excludes up to $10,200 in unemployment compensation from income. Another provision benefits many people who purchased subsidized health coverage through either federal or state Health Insurance Marketplaces. The law also includes a third round of Economic Impact Payments, currently going out to eligible Americans, that are generally equal to $1,400 per person for most people. The IRS will automatically provide these benefits to eligible filers.

Most taxpayers who have already filed their 2020 returns should not file amended returns, file refund claims, or contact the IRS about obtaining these newly enacted tax benefits. These actions will not speed up a future refund. In fact, they could even slow down an existing refund claim.

For more information, click here.

Checking Withholding Can Help Taxpayers Decide if They Need to Give Their Employer a New W-4 | Tax Tip 2021-75

All taxpayers should review their federal withholding each year to make sure they’re not having too little or too much tax withheld.

Employees, retirees and self-employed individuals can use the IRS Tax Withholding Estimator to help decide if they should make a change to their withholding. This online tool guides users, step-by-step through the process of checking their withholding, and provides withholding recommendations to help aim for their desired refund amount when they file next year. Taxpayers can check with their employer to update their withholding or submit a new Form W-4, Employee’s Withholding Certificate.

Adjustments to withholding

Individuals should generally increase withholding if they hold more than one job at a time or have income from sources not subject to withholding. If they don’t make any changes, they will likely owe additional tax and possibly penalties when filing their tax return.

Individuals should generally decrease their withholding if they qualify for income tax credits or deductions other than the basic standard deduction.

Either way, those who need to adjust their withholding must prepare a new Form W-4, Employee’s Withholding Certificate. They need to submit the new Form W-4 to their employer as soon as possible since withholding occurs throughout the year.

For more information, click here.

Tips for Troubleshooting Common After-Tax-Day Issues | COVID Tax Tip 2021-73

While the deadline to file and pay federal income taxes has passed for most people, some taxpayers may still be dealing with tax-related issues.

Here are some tips for taxpayers handling some of the most common after-tax-day issues.

Check refund status

Taxpayers can check on their refund using the Where’s My Refund? tool. It is available on IRS.gov and the IRS2Go app. Taxpayers without access to a computer can call 800-829-1954. To use this tool, taxpayers need their Social Security number, tax filing status and the exact amount of the refund claimed on their tax return. The tool updates once daily, so there’s no need to check more often.

Check withholding

All taxpayers are encouraged to check their withholding using the Tax Withholding Estimator on IRS.gov. This will help them make sure their employers are withholding the right amount of tax from their paychecks. Doing this now will help avoid an unexpected amount due and possibly a penalty when they prepare and file their taxes next year.

Taxpayers can use the results from the Estimator to help complete a new Form W-4 and adjust their income tax withholding with their employer. Taxpayers who receive pension income can use the results to complete a Form W-4P and submit to their payer.

For more information, click here.

News for Your Week Ahead: April 23, 2021

Posted on April 23, 2021March 12, 2024 by Walter Moore

On this week’s episode of MSATP TV, Bob Jennings joins Executive Director Bill Feehley to tell us about his classes TaxSpeaker Security and Preparations, Compilations and Reviews. He will be presenting both of these classes at the MSATP Annual Convention & Banquet in Ocean City, MD on June 2-3, 2021.

Watch on YouTube.

Coming Up: On Thursday, April 29th at 10 a.m., Jim Arnie will join Bill Feehley on MSATP TV to give us a wrap up on the legislative session in Annapolis. Tune in on Facebook for one last up date on the 2021 legislative session.

American Rescue Plan Tax Credits Available to Small Employers to Provide Paid Leave to Employees Receiving COVID-19 Vaccines; New Fact Sheet Outlines Details | IR-2021-90

The Internal Revenue Service and the Treasury Department announced today further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees receiving COVID-19 vaccinations.

The additional details, provided in a fact sheet released today, spell out some basic facts about the employers eligible for the tax credits. It also provides information on how these employers may claim the credit for leave paid to employees related to COVID-19 vaccinations

Eligible employers, such as businesses and tax-exempt organizations with fewer than 500 employees and certain governmental employers, can receive a tax credit for providing paid time off for each employee receiving the vaccine and for any time needed to recover from the vaccine. For example, if an eligible employer offers employees a paid day off in order to get vaccinated, the employer can receive a tax credit equal to the wages paid to employees for that day (up to certain limits).

For more information, click here.

Second Round of Economic Impact Payments | 2021-04

The Coronavirus Response and Relief Supplemental Appropriations Act Second Round Economic Impact Payment data are now available on SOI’s Tax Stats Web page. The Coronavirus Response and Relief Supplemental Appropriations Act, enacted in December 2020, created a second round of advance cash payments to individuals. These tabulations provide data on the second round of Economic Impact Payments by adjusted gross income, State, and marital status. Data on the third round of Economic Impact Payments from the American Rescue Plan Act of 2021 will be available at a later date.

For more information, click here.

Taxpayer Should File Their Tax Return on Time Even if They Can’t Pay Their Tax Bill in Full | Tax Tip 2021-53

Taxpayers should file their tax return by the deadline even if they cannot pay the full amount due.

If an individual taxpayer owes taxes, but can’t pay in full by the May 17, 2021 deadline, they should:

File their tax return or request an extension of time to file by the May 17 deadline.

People who owe tax and do not file their return on time or request an extension may face a failure-to-file penalty for not filing on time.
Taxpayers should remember that an extension of time to file is not an extension of time to pay. An extension gives taxpayers until October 15, 2021 to file their 2019 tax return, but taxes owed are still due May 17, 2021.

For more information, click here.

Digital Advertising Gross Revenues Tax and Tobacco Tax Alterations and Implementaion | SB 787

Due to the broad interpretation of what “digital goods” were subject to a new sales tax in HB932 of 2020, the MDCC formed a working group of tax experts to develop a set of recommended amendments providing clarity in the law. After much work, amendments on two major issues were agreed upon and included in SB 787, which passed Monday night and awaiting review from the Governor.

The amendments do two things:

Clarify that a taxable “digital product” does not include educational instruction or seminars conducted by educational institutions or professional organizations and business associations.
Clarify that certain types of computer software and related services are not taxable, where the purchase involves software that is unusable until it is configured or modified as necessary to perform the required functions and for the software to operate as intended. This is often referred to as “enterprise software” used by businesses.

For more information, click here.

Virtual Meeting a Little Grainy?

Posted on April 1, 2021March 12, 2024 by Walter Moore

by Walter

Throughout the COVID-19 pandemic, the use of our webcam has increased exponentially. What was once just a fun add-on for a laptop or an accessory for a desktop is now a necessity. While the feeds are a massive improvement from the early days of dial-up and DSL internet, there is always room for improvement. While your internet connection is probably enough to get the job done one issue is with the camera itself.

If you’re a hobby photographer you probably know that sensor size, quality, and the ability to adjust the settings of your camera are everything. For a webcam, this is no different. A built-in webcam for a laptop is a tiny mirrorless sensor camera that has a fixed aperture. The only things that can be adjusted, and this is usually done automatically, are the shutter speed and ISO. You will notice it making adjustments for example when you first start the camera for a webinar. It generally starts as a darker image and then brightens up. If you sit in a room with variable lighting, such as a room with many windows, you will notice the image adjusts to your lighting as the lighting changes. To help your built-in camera give the best possible image sit in a room with good lighting so the camera can use the lowest ISO setting possible. High ISO is what produces that grainy look you see when people are in dark rooms. The shutter speed will also be a little faster to compensate for any movement so your viewers get a much smoother, sharper, and clearer image of you.

Another option is to get a better webcam. While most webcams boast 720HD if your viewer has a full-screen view of you the quality of the image will leave something to be desired. Not all 720 resolution is the same especially given the bitrate of most video conferences is pretty low. Low bitrate means not a lot of data is being transmitted, so the image generally is smoother and less susceptible to having issues. Now while there is a limit here, you can use a better camera with a bigger sensor size that allows it to take in more light and data. So if you’re in a poorly lit room a better webcam with a larger sensor won’t have to adjust as much to produce an image. Some even have wider or variable apertures to allow the camera to take in more light before adjusting ISO which introduces that grain or noise.

Lastly, check your settings in your video conferencing service. Some offer HD plans which have more bandwidth than their standard plan. More bandwidth means more data from that camera can be transferred through the service. So if you’re using a higher quality webcam or broadcasting from say a full-frame camera you can get that nice sharp high definition look you’re looking for.

If you have any questions please feel free to reach out to me at walter@msatp.org.

How to Successfully Take an MSATP Webinar

Posted on August 20, 2020March 12, 2024 by Navaal Mahdi

COVID has had a lasting impact on many aspects of our lives, including the way we access continuing education as professionals.

While webinars are more accessible to many, we must keep in mind how they differ from in-person seminars. Firstly, you must answer polling questions so that NASBA and the IRS are sure you are paying attention to the material. In order to get the recommended credit hours for the class, you must answer at least 75% of the polling questions.

While it may seem easy, it is important that you answer all the questions because we never know if an interruption will happen and you have to miss a question or two later in the day. Unfortunately, the governing bodies have very strict rules that if you do not get 75% of the polling questions answered, you do not get any credit for the class. It would be terrible to sit through a long webinar and not get the credits because you missed too many polling questions. We are required to ask 3 polling questions per hour, and they must be at random intervals. For a 1 and 2-hour webinar, we will be asking 4 questions per hour so that if a participant misses one question, they will still get their credit.

Now that you know the rules, here’s how you can be successful attending when attending a webinar.

– Make sure you have a good internet connection, and remember that your phone can be used as a hotspot for a backup connection.

– Try to find a place in your home or office that you would use to host a meeting. You do not want any distractions.

– Take the time to download the manual the day before the webinar so you are prepared. If you have an iPad, by downloading the manual there, you can watch the webinar on your computer and follow along in the manual on your iPad. This way, you don’t necessarily need two screens. Sometimes, when using multiple monitors, the polling questions can be behind an open window which may cause you to miss the question.

– Make sure you have drinks and snacks available. Again, polling questions are put up at random times so if you are busy getting a drink, you could miss the question.

– If you are new to Zoom, make sure you download the app prior to the start time so you are ready for the webinar. All webinars begin promptly at the time they are scheduled for.

– At the end of the webinar, you will get an evaluation to complete. Evaluations provide us with valuable information for both this year’s webinars as well as planning for next year’s seminars.

– You will be muted throughout the webinar so if you have a question for the speaker, be sure to ask it in the Q & A section rather than the chat. The speakers monitor the Q & A, not the chat — you may use the chat to communicate with the MSATP Staff if you have an administrative question or comment.

These tips can go a long way in making your webinar experience the best it can be. Remember, we want you to get the CPE credits you need, but answering the polling questions is the only way we can monitor your engagement with the materials. Pay attention, answer the questions, and learn a lot!

If you have any questions, please email webinars@msatp.org.

How to Use Zoom For an MSATP Webinar

Posted on May 11, 2020March 12, 2024 by Navaal Mahdi

How to Join: A few days prior to your webinar, you will receive an email reminder from MSATP Webinars (webinars@msatp.org). On the day of the webinar, click the link in that email to join the webinar.

Chat: The in-meeting chat allows you to send messages to the host and panelists. If you have any general questions for the host like, for example, what the MSATP office phone number is, you may ask that question here. You can also use the chat to communicate with other attendees like, for example, if you want to ask others if they have any resources to share with you. Please keep all conversations related to the webinar.

Question & Answer: The Q&A window allows you to ask questions to the host (MSATP webinar producer) and panelists (presenter). You would put any questions you have about the subject matter here. The presenter can either reply back to you via text in the Q&A window or answer your question live.

To Ask a Question:

1. Type your question into the Q&A box. Click Send. Note: Check Send Anonymously if you do not want your name attached to your question in the Q&A.
2. If the host replies via the Q&A, you will see a reply in the Q&A window.

Polling Questions:

You must attend this webinar using a laptop or desktop computer, as the polling feature may not be available on mobile devices. You must also download/use the Zoom application on your computer so that you can see all polling questions.
During the webinar, polling questions will pop-up on your screen intermittently. You must answer at least 75% of the polling questions for CPE credit.

Leave Meeting: Click “Leave meeting” to leave the webinar at any time. Please note that you must attend the entire webinar in order to receive CPE. Plus, if you leave the webinar and the host locks the meeting room, you may not be able to re-enter. During any breaks, please leave the webinar open on your screen. Remember, no one can see or hear you.

Evaluation: Once you leave the meeting, a new window will open in your browser with the webinar evaluation. Please complete the form as your feedback is important to us!

For more information on any of the items above, click here.