Gross Mendelsohn Blog | Manufacturing & Distribution

Federal Tax Deadline for Individual Taxpayers Extended to May 17

By: David Lanchak March 18, 2021

Yesterday the Internal Revenue Service announced that the deadline for federal income tax filings and payments has been extended to May 17, 2021. The normal deadline is April 15.

6 Business Tips from Three Inspiring Businesswomen

By: Samantha Androsky March 17, 2021

Growing and running a business is hard (especially in the middle of a global pandemic). In the latest episodes of the firm’s video series, Next Level, Bryna Campbell, CPA, Shante Fields and Kat Sabo shared some of their top advice for businesses in 2021. Here are just a few of the takeaways from each of their interviews.

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Tax Changes for Individuals and Businesses Under the American Rescue Plan

By: Scott Handwerger March 16, 2021

On March 11, 2021, President Biden signed the American Rescue Plan into law. This $1.9 trillion COVID relief bill contains several tax provisions. Here are the highlights for individuals and businesses.

Maryland Extends State Income Tax Filing Deadline to July 15

By: David Lanchak March 11, 2021

On March 11, 2021, Maryland Comptroller Peter Franchot extended the state’s income tax filing deadline by three months to July 15, 2021. Taxpayers will not face interest or penalties if they file returns and pay taxes owed by the new deadline. This change will apply to individual, pass-through, fiduciary and corporate income tax returns, including first and second quarter estimated payments.

Maryland Passes $1 Billion+ COVID-19 RELIEF Act

By: Scott Handwerger February 17, 2021

Maryland Governor Larry Hogan signed the RELIEF Act into law on February 15, 2021. The RELIEF Act is intended to help reverse some of the adverse economic conditions brought about by the COVID-19 pandemic. This legislation includes changes to personal and business tax filings, relief payments for certain individuals, a sales and use tax credit, and changes to pass-through entity taxation. Let’s look more closely at some of the key provisions in the $1 billion plus relief package.

IRS to Increase Audits by 50% in 2021

By: Paul Cooke February 09, 2021

They are the last words any business owner wants to hear: “You are being audited by the IRS.”