taxes

April 6, 2020 | Juanita Farmer, CPA

BLOG: Tax Returns and Estimated Taxes Now Due July 15

Due to the coronavirus pandemic, the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. In addition, the payment and return-filing […]

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April 2, 2020 | Jordan Lindsay

Five Things to Know for April 2 in Montgomery County

It’s Thursday, April 2 and here are five things to know in Montgomery County. 1.Virtual Community Briefing: Montgomery County Executive Marc Elrich will host a virtual community briefing from 7:00 p.m. – 8:30 p.m. He will be joined by MCPS Superintendent Dr. Jack Smith, County Health Officer Dr. Travis Gayles and Director of Emergency Management Dr. Earl […]

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April 1, 2020 | Andrea Sarralde

¿A Quién le llegará Dinero como Parte del Estímulo Económico?

El Senado estadounidense aprobó un paquete de estímulo económico de $2,000 millones de dólares para aliviar parte de la crisis generada por la pandemia COVID-19. Como parte de este paquete de estímulo el gobierno anunció que van a enviar dinero a través de la Oficina de Servicios de Rentas Internas IRS. Dendry Aguilar del Centro […]

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March 25, 2020 | Jordan Lindsay

Comptroller Franchot Speaks on Economic Impact of COVID-19 Outbreak

The state mandated Executive Order that has been put in place requires social distancing to limit the spread of the novel coronavirus. As a result, several small businesses have been required limit their hours, while some have had to close their doors completely until further notice. This pandemic is impacting not only businesses but individuals […]

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March 23, 2020 | Juanita Farmer, CPA

BLOG: Are Social Security Benefits Taxable?

Social Security benefits include monthly retirement, survivor, and disability benefits; they do not include Supplemental Security Income (SSI) payments, which are not taxable. Generally, you pay federal income taxes on your Social Security benefits only if you have other substantial income in addition to your benefits such as wages, self-employment, interest, dividends and other taxable […]

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March 23, 2020 | Staff Writer

photo of calculator and income tax forms

IRS Extends Deadline to File, Pay Taxes Until July 15

The Internal Revenue Service (IRS) announced Saturday, that the deadline to file and pay federal income tax has been extended from April 15 to July 15 in response to the COVID-19 outbreak. This applies to individuals and businesses. And there is no need to file Form 4868 (individual taxpayer) or Form 7004 (business) for the […]

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March 21, 2020 | Andrea Sarralde

ACTUALIZACIÓN: Extensión de Fecha para Declaración de Impuestos

Actualización del Servicio de Rentas Internas (IRS): La fecha de vencimiento para la presentación de impuestos se extiende del 15 de abril al 15 de julio. Todos los contribuyentes – individuos, corporaciones, otros contribuyentes no corporativos y aquellos que pagan el impuesto sobre el trabajo por cuenta propia – también pueden diferir los pagos del […]

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March 11, 2020 | Juanita Farmer, CPA

BLOG: What to Do If You Are Missing Important Tax Forms

If you are ready to file your taxes but you are missing important tax forms here’s what you should do: Form W-2 You should receive a Form W-2, Wage and Tax Statement, from each of your employers for use in preparing your federal tax return. Employers must furnish this record of 2019 earnings and withheld taxes […]

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March 5, 2020 | Andrea Sarralde

Solicite Seguro Médico en la Declaración de Impuestos

Leslie Martínez, Directora de Programa del Departamento de Salud y Servicios Humanos del condado de Montgomery habló a MyMCMedia sobre todos los detalles de la nueva opción que se incluyó este año en la declaración de impuestos, y que le permite a los residentes del estado de Maryland solicitar seguro médico si aún no están […]

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February 21, 2020 | Juanita Farmer, CPA

BLOG: Six Facts About Form 1040-SR

Taxpayers aged 65 or older now have the option to use Form 1040-SR, U.S. Tax Return for Seniors, thanks to the Bipartisan Budget Act of 2018, which required the IRS to create a new tax form for seniors. Here are six facts you should know: 1. Form 1040-SR is designed with larger font size (i.e., “large print”) […]

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