AAG Tax Resolution

08/09/2024

Just attended a great session on "Changing Your Residency" by Joseph N. Endres a Partner at Hodgson Russ LLP. Can't wait to apply these insights for our clients who have moved or are planning to leave their current state!

11/27/2023

⚖️ Breaking News: IRS Contractor in Hot Water! 🚨
An IRS contractor faces serious charges for leaking confidential tax returns. This shocking breach of trust has sparked nationwide concerns over privacy and security within the IRS. How safe is your personal information?

The federal charges are said to involve disclosure of tax information from Donald Trump and other wealthy taxpayers.

11/24/2023

🚀 Big news for taxpayers! The IRS launches a Free Tax Filing Pilot, aiming to simplify your tax experience. 💰 No more confusion or costly services! This new direct-file system promises a hassle-free way to file taxes, keeping more money in your pocket.

11/22/2023

Maximize your tax strategy as the IRS levels up with AI! 🚀 Lawmakers are giving cautious applause as the IRS adopts advanced artificial intelligence to enhance tax enforcement and operations. Stay ahead of the curve - our expert CPA services in Essex, MD, are equipped to navigate these high-tech changes for you. Don't let AI advancements catch you by surprise.

Lawmakers focusing on the use of artificial intelligence in this Congress say they’re skeptical but optimistic about how the IRS plans to use the technology.

11/20/2023

🚀 Big News for Businesses! The IRS has just rolled out a new withdrawal option for Employee Retention Tax Credit claims! 🔍

Are you a business owner who took advantage of the Employee Retention Credit during the pandemic? The IRS now offers a more streamlined way to adjust or withdraw your claim, making it easier to manage your finances and stay compliant. 📊

The IRS on Thursday announced a special withdrawal process for small businesses that may have wrongly claimed the so-called employee retention tax credit.

11/17/2023

🚨 Small Business Owners & Freelancers Alert! 🚨
The IRS is tightening the reins on misclassified independent contractors. But did you know there's a safety net? 🛡️
Discover the "safe harbor" rule that can protect your business from costly penalties! Stay compliant and safeguard your hard-earned money with vital tips from our latest article. 💼📈

Congress created a big incentive for restaurants and bars to report employees’ tips, which can be good for workers, too—even if many don’t believe it. So why hasn’t it done the same for the largely female-owned beauty industry?

11/15/2023

🖼️ Attention Art Collectors and philanthropists! 🚨
The IRS has just issued a stern warning you can't afford to miss. Are you considering donating art for a hefty tax deduction? Think carefully! The latest Forbes article unpacks the complexities of art donation and the IRS's tightened scrutiny.

There are ways for taxpayers to properly claim donations of art. But how much is art worth? That uncertainty has allowed some tax scams IRS wants to stop.

11/13/2023

🚨 : Are you classifying your workers correctly? The IRS is intensifying its scrutiny on businesses for misclassified independent contractors. Stay ahead of the game with the latest insights from CPA Practice Advisor.

✅ Understand the Safe Harbor Rule and protect your business from costly penalties. Learn more about guidelines and ensure your company's compliance.

An employer in danger of being assessed back taxes for certain workers may avoid liability if it qualifies for “Section 530 relief.”

11/10/2023

🚨 Attention Small Business Owners! 🚨

The IRS is cracking down on misleading tax credit claims, and your business could be affected! 🛑💼

Are you up-to-date on the latest tax credit guidelines? Don't fall prey to scammy firms promising big breaks without the proper due diligence. 🕵️‍♂️💸

Protect your business. Stay informed. Act now. ✅

The IRS may bring criminal charges against ERC companies that allegedly were persuading small business owners to fraudulently claim the credit.

11/08/2023

🔌⚡ Big news for eco-friendly drivers! The IRS is boosting tax credits for EV purchases! Learn how you can save big on your next electric vehicle and contribute to a cleaner planet. 🌍💚

Starting Jan. 1, EV buyers can receive rebates of up to $7,500 right at the dealership

11/06/2023

🚨 Tax Alert: The Income Tax Gap Continues to Widen! 📈
Are you aware of the increasing income tax gap that could affect your finances? Find out the latest insights from the IRS and what it means for taxpayers like you. Don't get caught off guard by the shifting landscape of taxation! 💼🔍

For tax years 2021 and 2020, the latest to receive such IRS estimates, the projected gross "tax gap" soared to $688 billion and $601 billion, respectively. That is a significant jump from the past.

11/02/2023

⚡️ Tax Alert: The IRS is set to adjust 2024 tax brackets for inflation! 💰 Expect higher standard deductions and increased retirement account limits, meaning more of your income could stay in your pocket. Stay ahead of the curve and prep for savings!

The IRS is set to announce new tax bracket thresholds for the 2024 tax year. One expert says to expect a 5.4% increase from last year.