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Maryland's sales tax holiday for back-to-school items this year is from Sunday, August 11 through Saturday, August 17. Any single qualifying article of clothing or footwear priced $100 or less will be exempt from Maryland sales tax, regardless of how many items are...

A great deal of responsibilities lay on the shoulders of individual business owners operating in partnerships, including tax liability. Their professional decisions can have major personal financial impacts, and therefore, must be chosen carefully. Business owners...

Changes to tax laws have left many Americans unsure about their own tax liability. Taxpayers with complex assets typically face a more complicated filing process, but this year’s filing season may be even more confusing with new rules in place. Without help from...

The IRS brought the Offshore Voluntary Disclosure Program (OVDP) to a close on September 28th, 2018. This program allowed U.S. taxpayers to bring foreign assets into U.S. tax compliance, pay for civil tax and penalties while avoiding harsh criminal referrals. This...

At the end of 2017, the government signed into law the Tax Cuts and Jobs Act of 2017. This ushered in changes that will probably significantly affect your 2018 tax return. With the next filing season right around the corner, you might be wondering what your tax...

Small business owners wear many hats, including management, human resources and finances. It is not uncommon for small business owners to exclusively pay attention to tax brackets without considering other important issues. Without a dedicated tax professional, they...

Form 8300 is an important tax document. It is required to fill out this form if your business accepts a cash payment over $10,000. This form provides information to the Internal Revenue Service, which helps it fight against money laundering.Anyone in a trade who...

You travel all over the world for business. You have meetings with clients, you tour factories, you meet with the owners of other companies looking to partner with you. And that's just the tip of the iceberg. For you, work rarely means being in the office and far more...

When people get into trouble, bankruptcy is often the last resort solution they turn to. Depending on an individual's assets and income, either Chapter 7 or Chapter 13 bankruptcy could offer some form of relief. After all, bankruptcy provides an automatic stay against...

Published in Tax Notes, Aug. 27, 2018, pp. 1327-1329. By Nathan J. Richman Between possible non-tax-evasion motives foreven the most secretive uses of virtual currencies and the long list of open tax questions, practitioners say the IRS shouldn't hurry to amend its...