News and Events

As part of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Congress established a new refundable tax credit for qualifying companies that kept their employees on staff in 2020. Congress extended this credit for 2021 through the Taxpayer Certainty and Disaster Tax Relief Act, albeit with revised eligibility criteria.

For business owners, investors and other high-income taxpayers, tax planning is a year-round process. These taxpayers must take steps to ensure that they remain current on their federal and state tax obligations, and they should implement tax strategies designed to minimize their liability to the greatest extent possible. In this article, Maryland federal tax attorney, Managing Partner of US International Tax Advisors, discusses some ways high-income taxpayers can—and should—plan to minimize their tax liability and avoid a tax audit in 2023.  

Maryland taxpayers must make quarterly estimated tax payments to the Internal Revenue Service (IRS) (and the Comptroller of Maryland) under various circumstances. While the most common scenario involves working as a sole proprietor or independent contractor, there are numerous other scenarios that can trigger an obligation to make quarterly tax payments as well. In this article, US International Tax Advisors provides an overview of the IRS’s quarterly estimated tax payment rules and the consequences of failing to file quarterly returns.

With prices climbing dramatically due to inventory shortages and historically low-interest rates early in the year, many U.S. residents have chosen to sell their homes in 2022. In response, the IRS recently published a Tax Tip reminding us of the tax implications of selling a residential property. In this article US International Tax Advisors covers some of the highlights:

National Small Business Week was May 1- 7, 2022, as recognized by the Internal Revenue Service (IRS). During the week the IRS published several notices, reminders and Tax Tips intended specifically for small businesses—all focused on the IRS’ theme of “Building a Better America Through Entrepreneurship.” In this article US International Tax Advisors recaps some of the highlights: