ATTENTION: Please be aware that there is a IRS Tax Phone Scam taking place to tax payer.
See link: http://a.msn.com/01/en-us/AAfwC84?ocid=se
REMEMBER...the IRS will NEVER call an individual
Starting for filing season 2020 for tax year 2019, the penalty for not having health insurance is no longer in effect.
Beginning January 1,2020 a new W4 form will be issued by the IRS. A taxpayer can no longer adjusted their withholdings. The IRS eliminated exemptions on the tax return which does not allow exemptions and generated the need for a new W4. A new W4 do not need to be completed for your employer. However, if you change jobs you will need to complete oneof the new W4 forms.
The IRS will begin accepting return on January 27, 2020. Please note some refunds must be held until late February.
If the taxpayer has the Earned Income Tax Credit (EITC) or CTC (Child Tax Credit), refunds are not processed until late February to ensure that persons claiming those credits are qualified to.
This applies to the entire refund, even the portion not associated with these credits.
The deadline to file and pay your tax liability has been extended to July 15, 2020. This pertains to Maryland State Taxes as well as Personal Property Taxes. See link below to get updated information and changes due to Covid-19.
Ask about all common deductions that are overlooked:
The Social Security Administration will no longer mail out benefit statements. They are asking individual to go online to create an account. Click on the link to get started - http://www.socialsecurity.gov
Beginning on Jan. 1, 2020, the standard mileage rates for the use of a car, van, pickup or panel truck will be:
57.5 cents per mile for business miles driven
170 cents per mile driven for medical or moving purposes
14 cents per mile driven in service of charitable organization
Click on the link below to visit the IRS website to check refunds and search for other information