While the Internal Revenue Service ("IRS") is continuing to process thousands of the Employee Retention Credits ("ERC"), the IRS has recently announced that it will begin to deny the highest risk claims while processing the lower risk claims. IRS is…
The IRS has launched a new initiative targeting high-income individuals who have not filed tax returns since tax year 2017. This IRS initiative is being funded by the Inflation Reduction Act. Currently, there are 125,000 taxpayers in the purview of…
Employers are required to notify employees if they qualify for the Earned Income Tax Credit. The Earned Income Tax Credit is a credit that a working taxpayer can receive from both the IRS and the State of Maryland. The amount…
Maryland law now requires that all homeowners in Montgomery County must file an application with the State of Maryland for a “Homestead Tax Credit” in order to continue to receive Montgomery County's $692 “Income Tax Offset Credit” on Montgomery County…
Winning or settling a lawsuit that results in a large cash payout may require the winning party to pay taxes on the judgment or settlement proceeds. However, the taxable nature of these types of payments are not simple and involve…
Bethesda Magazine sends surveys to over 1,800 attorneys who practice regularly in Montgomery County, Maryland asking those attorneys to recommend an attorney in 25 practice areas, including Tax Law. Longman & Van Grack attorney Robb Longman was recently selected by…
Federal taxes are due Wednesday, July 15, 2020. With millions of people out of work, there is a concern that many taxpayers will not have the money to pay their income taxes when they file. Even if a taxpayer does…
Due to the COVID-19/Coronavirus Pandemic, the Internal Revenue Service (IRS), Maryland, and DC have extended the April 15, 2020 tax deadlines for the filing and payment of taxpayer's Tax Year 2019 income taxes due. However, many tax deadlines occur throughout…
In the wake of the Coronavirus COVID-19 Pandemic, the IRS is providing guidance and support with regard to all compliance programs. On March 25, 2020 the IRS unveiled the People First Initiative. The program is designed to assist taxpayers who…
Due to the Coronavirus Pandemic (COVID-19), the IRS, State of Maryland, and local governments have all been acting to adjust deadlines and assist taxpayers. This article will address many of the actions and activities currently ongoing. Tax Deadlines and the…
