Bmore Accountable

Happy Friday, we guess. Maryland state refunds are delayed. 😩🥺

Maryland comptroller says tax processing system was down, which caused tax return delays Tens of thousands of people have already filed their taxes in Maryland, but many of them are still waiting on their tax refunds.

Don’t let them people trick you into playing with the IRS! Play with somebody safe y’all. Someone who can’t garnish your whole paycheck every two weeks.

IRS warns taxpayers of new filing season scams involving Form W-2 wages; those filing fake returns face potential penalties, investigation | Internal Revenue Service IR-2023-38, March 3, 2023 — The Internal Revenue Service issued a consumer alert today to warn taxpayers of new scams that urge people to use wage information on a tax return to claim false credits in hopes of getting a big refund.

Oop! 👀

IRS sets January 23 as official start to 2023 tax filing season; more help available for taxpayers this year | Internal Revenue Service IR-2023-05, January 12, 2023 — The Internal Revenue Service today announced Monday, January 23, 2023, as the beginning of the nation's 2023 tax season when the agency will begin accepting and processing 2022 tax year returns.

Federal Student Aid is accepting forgiveness applications. 😆

Federal Student Aid

The IRS starts processing tax returns today! Don’t rush to file before you have received all of your relevant tax forms and documentation. You don’t want to miss out on any credits or deductions. Nor do you want your refund to be delayed due to errors and missing information.

Be sure to present IRS letter 6419 to your tax preparer if you received the Advanced Child Tax Credit.

Understanding Your Letter 6419 | Internal Revenue Service To help taxpayers reconcile and receive 2021 CTC, the IRS is sending Letter 6419, Advance Child Tax Credit Reconciliation from late December 2021 through January 2022.

It is upon us. Tax season begins January 24th, 2022. We’ll help you prepare.

2022 tax filing season begins Jan. 24; IRS outlines refund timing and what to expect in advance of April 18 tax deadline | Internal Revenue Service IR-2022-08, January 10, 2022 — The IRS announced that the nation's tax season will start on Monday, January 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.

A number of stimulus payments are going out this Wednesday. Are you eligible? Find out here.

More details about the third round of Economic Impact Payments | Internal Revenue Service FS-2021-04, March 2021 — The Internal Revenue Service, on behalf of the Treasury Department, worked to quickly begin delivery of the third round of Economic Impact Payments authorized by Congress in the American Rescue Plan Act in March 2021. Here are answers to some common questions about this se...

Help is on the way. No MD state taxes on unemployment for 2020 and 2021, increased MD EITC for next three years, relief for small businesses. Oh and a stimulus payment of $300 ($500 married) if you qualified for the EITC in 2019.

Who gets checks, tax breaks — and when — from Maryland’s coronavirus pandemic RELIEF Act package? About 400,000 low-income workers, defined as those who receive the earned income tax credit, will receive direct payments of $300 for an individual and $500 for a couple.

All tax preparers aren’t created equal. We’re accountants over here!

Did you expect to get a refund, but ended up owing? Was your preparer able to tell you exactly why you owed, give you suggestions to change your situation going forward, and explain your payment options?

If you can’t answer yes to all of those questions, maybe you need to reconsider who you are giving you social security number to. 🤷🏾‍♂️

Happy Valentine’s Day! Can your tax return be ours? 😍

Happy Saturday! Ensure you receive a copy of your return from your preparer when it is filed. There are various situations when you will need it including purchasing a home, refinancing, getting a business loan, or simply filing your current year return. Chasing them down a year later could be a hassle, or impossible.