When Maryland residents have their tax returns accepted by the IRS, it doesn't mean that there weren't any errors. In a given year, millions of people will receive a notice from the IRS, and mistakes could lead to an individual paying more to the government. However,...
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2017 Tax Act Provides 20% Deduction for Individual Owners of Certain Pass-Through Businesses
One of the most significant changes under the new tax rules is the reduction in the maximum federal income tax rate for Subchapter C corporations to 20%, together with the elimination of the corporate alternative minimum tax ("AMT"). In an apparent effort to mitigate...
2017 Tax Reform: Individual Tax Changes in the “Tax Cuts and Jobs Act”
Kundra & Associates is excited to provide you with relevant text/information as to the new Tax Law Changes with special thanks to RIA for text and language. If you have further questions, please contact your tax professional or the attorneys at Kundra &...
2017 Tax Reform: S Corps, Partnerships & Related Changes
Kundra & Associates is excited to provide you with relevant text/information as to the new Tax Law Changes with special thanks to RIA for text and language. If you have further questions, please contact your tax professional or the attorneys at Kundra &...
Tax obligations and vacation property
It may come as an unwelcome surprise to learn that we're already approaching the midpoint of summer. While this is never really a welcome reality -- especially for those of us who live in areas with long winters -- the good news is that there is still plenty of time...
Why are Baltimore County residents being told to disregard property tax bills?
While there is perhaps no better feeling than owning your home or the structure in which you conduct your business, this possession of real property comes with a host of real responsibilities. Indeed, not only is it your responsibility to make repairs and secure...
IRS warning taxpayers to be on the lookout for a summertime scam
At this time of the year, the last thing on the minds of most people is their taxes. This makes perfect sense when you consider that Tax Day 2018 is still so far away and there are so many warm weather activities to enjoy.While slowing things down during the summer...
A closer look at the enforcement options Maryland uses to collect tax debt – III
In a series of ongoing posts, our blog has been examining how it's not just the Internal Revenue Service that has a host of collection options at its disposal, but also the Comptroller of Maryland. To that end, we've been exploring just how deep the agency's toolbox...
How concerned should I be about that IRS letter?
As you make your way to the mailbox these days, chances are good that your biggest fear may be a large credit card bill, a rejection letter for a job you really wanted, or an unwanted invitation.In other words, the last thing you expect to see in your mailbox is an...
A closer look at the enforcement options Maryland uses to collect tax debt – II
Earlier this month, our blog spent some time discussing how those individuals who find themselves in the unenviable position of not having made payment arrangements with the Comptroller of Maryland's office or being unable to comply with these arrangements should know...