FINANCE | ACCOUNTING | TAXES

Updated February 13, 2026​ - Coverdale & Associates, Inc

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ATTENTION: Please be aware that IRS tax scams continue to target taxpayers.
Scammers may call, text, or email pretending to be government officials.

 

REMEMBER… the Internal Revenue Service will NEVER call, text, or email demanding immediate payment or personal information.

 

NOTE:

The federal penalty for not having health insurance remains eliminated. There is no federal tax penalty for being uninsured.

The redesigned W-4 form is still in effect. Taxpayers no longer claim allowances or exemptions on the W-4.

A new W-4 does not need to be completed unless:

• you start a new job

• you want to adjust your withholding

• you experience major life changes (marriage, child, etc.)

 

The IRS typically begins accepting tax returns in late January each year.
Some refunds may be held until late February.

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If a taxpayer claims:

• Earned Income Tax Credit (EITC)

• Child Tax Credit (CTC)

refunds are delayed to ensure eligibility verification.

This applies to the entire refund, even the portion not connected to those credits.

The deadline to file and pay federal and Maryland state taxes is April 15, 2025 (unless officially extended).

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Ask about commonly overlooked deductions and credits:

• Charitable contributions

• Child & dependent care expenses

• Educational expenses & credits

• Retirement savings contributions

• Medical expenses

• Energy-efficient home improvements

• Self-employment expenses

• Mortgage interest & points

• Student loan interest

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The Social Security Administration no longer mails paper benefit statements.
Individuals must create an online account to access their statements and earnings history.

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Visit: www.ssa.gov

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Standard mileage rates (subject to annual IRS updates):

• Business miles

• Medical or moving purposes

• Charitable service mileage

(Ask your preparer for the current year’s exact rates.)

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Visit the IRS website to:

• Check refund status

• Track payments

• Access tax forms

• Get official tax updates

 

www.irs.gov