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Here’s Why Maryland Paid the IRS $5.4 Million in Taxes

CPA Practice

2—Maryland has paid $5.4 million to the Internal Revenue Service after a rare IRS audit of the state found it owed millions of dollars in taxes in 2020. Samuel Handwerger, a Certified Public Accountant who teaches at the University of Maryland’s Robert H. It might be the first time the state has ever been audited,” Lierman said.

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Cherry Bekaert Acquires DeBlanc, Murphy & Murphy in Maryland

CPA Practice

It also enhances Cherry Bekaert’s capabilities in audit and tax services and offers DeBlanc, Murphy & Murphy clients access to a broader range of specialized services. area for providing tailored solutions in tax planning, audit, and financial consulting.

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Maryland Joins IRS Direct File Program For 2025

CPA Practice

By Sam Janesch Baltimore Sun (TNS) Marylanders who have relatively straightforward tax returns will have the chance to ditch independent—and sometimes costly—tax preparers and instead file their federal taxes directly with the IRS for free in 2025, state and federal officials said Wednesday. Treasury Deputy Secretary Wally Adeyemo.

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Do you really understand economic nexus for sales tax?

TaxConnex

Now that the pandemic helped them discover just how lucrative sales tax can be, states and jurisdictions are also intensifying sales tax investigations and audits. Maryland has greenlighted the nation’s first tax on digital advertisements ; the gross receipts tax on digital ads ranges from 2.5% Though some called the Maryland law?“incredibly

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Professionals on the Move – Nov. 2024

CPA Practice

CohnReznick’s McCafferty selected to MACPA’s 2024 Women to Watch CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, announced that Molly McCafferty, Partner, Assurance, has been selected as one of four 2024 Women to Watch by the Maryland Association of CPA’s (MACPA) Foundation.

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ERC IRS Audit Representation: Your Comprehensive FAQ Guide

MyIRSRelief

ERC IRS Audit Representation: Your Comprehensive FAQ Guide The Employee Retention Credit (ERC) has been a lifeline for many businesses during challenging times, providing substantial relief. However, with the IRS actively scrutinizing ERC claims, it’s crucial for businesses to understand their rights and options when facing an audit.

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How to Turn a Shortage of Accountants Into an Opportunity for Businesses

CPA Practice

With more than 12 years of experience in both large-scale and high-growth businesses, Mike has managed all aspects of corporate finance functions, including forecasting and budgeting, financial reporting, external audits, investor relations, and M&A due diligence. in finance and accounting from the University of Maryland Robert H.