News For Your Week Ahead: January 14, 2022

On this week’s MSATP TV, Don Hoffman of the Hoffman Group joined us to give us a rundown of what to expect at MSATP’s 2022 Interview Bootcamp partnership with The Hoffman Group. If you have not already heard about the bootcamp this is an excellent opportunity for students who are applying for an accounting job or internship for the first time to practice and hone their skills for an interview. To register for Interview Bootcamp, click here.

Watch on YouTube.

Coming Up: On Thursday, January 20 at 10 a.m., Cliff Reiter will join us to tell you how he can help you in listing, selling, and even transitioning in the sale of your practice.

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

Governor Hogan Announces Legislation to Eliminate SDAT’s $300 Annual Business Fee

Governor Larry Hogan announced legislation that eliminates the filing fee for businesses that submit their annual report online.

Maryland would be the first state in the country to provide a zero-fee option for all businesses for this type of filing, which is required to be submitted every year with the Maryland State Department of Assessments and Taxation (SDAT). Annual reports, and most business filings, can be submitted online using the Hogan administration’s award-winning Maryland Business Express website.

For more information, click here.

2022 Tax Filing Season Begins Jan. 24; IRS Outlines Refund Timing and What to Expect in Advance of April 18 Tax Deadline | IR-2022-8

The IRS announced that the nation’s tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns.

The January 24 start date for individual tax return filers allows the IRS time to perform programming and testing that is critical to ensuring IRS systems run smoothly. Updated programming helps ensure that eligible people can claim the proper amount of the Child Tax Credit after comparing their 2021 advance credits and claim any remaining stimulus money as a Recovery Rebate Credit when they file their 2021 tax return.

For more information, click here.

Recipients of Advance Child Tax Credit Payments Should Watch Out for IRS Letter | Comptroller of Maryland

As Marylanders begin to gather documents for the 2021 tax year, Comptroller Peter Franchot reminds those who received monthly advance Child Tax Credit (CTC) payments last year to be on the lookout for IRS letter 6419.

The IRS is sending out this important notice to help taxpayers report their advance payments correctly and so they can claim the remaining half of the CTC on their federal return. Using the amounts in the IRS letter can help taxpayers quickly file tax returns and avoid processing delays that impact refund payments.

For more information, click here.