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Tax Practitioner: (410) 630-1324

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411-Tax               Services

Current Tax Year News

New IRS Requirement for Money Transfer and Payment Apps

New IRS Requirement for Money Transfer and Payment Apps

New IRS Requirement for Money Transfer and Payment Apps

411-Tax Services recommends that taxpayers began making notes/remarks as to what monies are for on all monies sent and received by money transfer and payment apps such as Cash-App, Zelle, Paypal or Venmo, etc. By placing notes/remarks such as personal loan, tax fee, for goods or services provided "repaired window", gift, charity, etc. on these money transfer and payments apps will make the gathering of your tax documents expenses and income easier at year-end. The IRS will be lowering the reporting threshold amount for issuing Form 1099-K to $600.00; the requirement for businesses such as "money transfer and payment apps" referred to as "third-party payment platforms" by the IRS was delayed this year by the IRS.


 IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K  


 Frequently asked questions about Form 1099-K 

Find out more

Maryland Announces Tax Deadline

New IRS Requirement for Money Transfer and Payment Apps

New IRS Requirement for Money Transfer and Payment Apps

Maryland announces to file and pay your state individual taxes without any state penalty or interest by the deadline for this tax year on Tuesday, April 18, 2023. 


411-Tax Services and Maryland recommend that Taxpayers file their tax returns electronically and request direct deposit for the fastest possible processing and to ensure they  receive all possible refunds and to avoid postal service delays. 

Find out more

Advanced Child Tax Credit Payments

Advanced Child Tax Credit Payments

Advanced Child Tax Credit Payments

Those who received the advanced Child Tax Credit (CTC) payments during the period July 2021 to December 2021 should receive a IRS Letter 6419 with important information about their payments; this IRS Letter will be needed by your Tax Preparer/Practitioner. If you do not receive this IRS Letter click link below:


CTC Update Portal

Tax Credits for Families

Advanced Child Tax Credit Payments

Advanced Child Tax Credit Payments

These are tax credits for families the Earned Income Tax Credit (EITC), the Child Tax Credit (CTC), and the Child and Dependent Care Credit 

Prior Years Tax News & FAQ

Internal Revenue Service (IRS) Form W-4, Employee's Withholding Certificate Redesign

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

The Tax Cuts and Jobs Act of 2017 resulted in the IRS having to revised the Form W-4, Employee's Withholding Certificate to eliminate the personal exemption allowance. Now, the revised Form W-4 asks taxpayers to provide details on their actual filing status, your income sources, spouses' income, self-employment income, credits, and deductions. There is no requirement to complete a new Form W-4 with your current employer unless you have a life change such as getting married, divorced, having a bay, buying a home, or other change in your life related to taxes.

For Help Completing Form W-4 - Click Here

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

The Internal Revenue Service (IRS) announces that for the first time this summer taxpayers will be able to file Form 1040-X Amended U.S. Individual Tax Return electronically using current tax software products. This is great tax news for taxpayers and a "major milestone" for the IRS. The new electronic Form 1040-X amended tax return will only be available for tax year 2019. 

Click button below for more information.

New Form 1040-X Amended Electronic Tax Return

Deadline For Payment: October 15, 2020 Low Income and Others Who Usually Are Not Required To File

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

The Internal Revenue Service (IRS) reminds those who are low-income and those who are not required to file a tax return have until October 15, 2020 to use the IRS Non-Filers Tool to register for a Economic Impact Payment. Click below for more information.

Economic Impact Payment Information

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

The Consumer Financial Protection Bureau (CFPB) says Do Not Throw Away the Prepaid VISA Debit Card sent to you. This Prepaid VISA Debit Card is sent to some people because the IRS couldn't direct deposit your stimulus payment. Click below for more information.

Prepaid VISA Debit Card - Click Here

IRS Adds Telephone Operators for Economic Impact Payment Questions

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

IRS Adds Telephone Operators for Economic Impact Payment Questions

Tax News: Telephone assistance on Economic Impact Payments is available at the IRS main number or dialed direct at 1.800.919.9835. 

Economic Impact Payments Information

IRS Updated News on Economic Impact Payments

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

IRS Adds Telephone Operators for Economic Impact Payment Questions

Tax News: Taxes today, IRS compiled information and outreach materials to a special page on its website providing updated information on Economic Impact/Stimulus Payments.

Economic Impact Payments Information

Current Information on Impact Payments

Current Information on Impact Payments

Current Information on Impact Payments

 Tax News: Taxes today, IRS Poster: Economic Impact Payments - What you Need To Know: IRS Poster with facts about the stimulus/impact payments. 


 https://www.irs.gov/pub/irs-utl/e-poster_payments.pdf 

IRS Coronavirus Tax Relief Information

Current Information on Impact Payments

Current Information on Impact Payments

 Tax News: Taxes today, Up to date information on Coronavirus Tax Relief directly from the Internal Revenue Service (IRS) that's related to the Tax Service industry.

 

https://www.irs.gov/coronavirus

Maryland Tax News

Current Information on Impact Payments

Maryland Taxes Press Releases

Taxes Today - Maryland Poster: Up to date tax news and information on the state of Maryland taxes.


 https://www.marylandtaxes.gov/media/2020/Due_Dates_Website_Cover.pdf 

Maryland Taxes Press Releases

Small Business Administration and Treasury Department Release PPP Loan Forgiveness Application

Maryland Taxes Press Releases

Taxes Today: Breaking Tax news in the state of Maryland:


 https://www.marylandtaxes.gov/media/index.php 

Small Business Administration and Treasury Department Release PPP Loan Forgiveness Application

Small Business Administration and Treasury Department Release PPP Loan Forgiveness Application

Small Business Administration and Treasury Department Release PPP Loan Forgiveness Application

The Small Business Administration (SBA) along with the Treasury Department released their Paycheck Protection Program (PPP) Loan Forgiveness Application providing details for completing the application. Also, the SBA will soon issue regulations and guidance to assist borrowers and lenders on their responsibilities.

For More Information on PPP Loan Forgiveness - Click Here

Non-Filers: - Payment Info Needed by the IRS

 Tax News: Taxes today, the IRS has a "Web-Tool" for those who normally would not file a tax return because of "no taxes" paid due to individual income did not exceed $12,000.00 and married couples with gross income that did not exceed $24,400.00.  For IRS to determine your eligibility and stimulus payment amount  Click on the button below:

IRS Web-Tool for Non-Filers Information

Tax Scams

BEWARE OF TAX SCAMMERS & THIEVES

 

As Always Beware of Scammers and Thieves:

Remember there are scammers and thieves seeking to steal and scam you out of your Economic Impact Payments/ stimulus payments. Always verify the source of everyone sending you emails and calling you about your payment. For more information on the IRS "Do's and Don'ts": 

  • Tax Scams/Consumer Alerts 
  • The Dirty Dozen represents the worst of the worst tax scams. 
  • Tax Scams - How to Report Them
  • Do's and Don’ts for Taxpayers Who Get a Letter from the IRS


Frequently Asked Questions

When should I contact a Tax Practitioner?

 Tax News: Taxes today, as soon as you start to think about taking actions concerning your income and business, a Tax Practitioner, tax service can help you take the next steps. We can discuss your business's organization, tax purposes and operations.  

What are my options for paying and saving taxes?

  • Contact Ronald Davis at 411-Tax Services for organizing your records. Keeping you up to date on the latest tax news and taxes today. Let 411-Tax Services help you get ready for your next tax related step! 

How can I know which Tax Practitioner is right for me?

  • Does your Tax Practitioner return your calls? Do you feel comfortable asking them a question? Do you feel heard? With the right Tax Practitioner, your answers to these questions should be a resounding "Yes!" Contact 411-Tax Services for your latest tax news about taxes today.

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411-Tax Services

411-Tax Services, P. O. Box 19717, Baltimore, MD 21225, US

(410) 630-1324

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