The Progressive Accountant
Refunds Continue to Lag 2017
- Sunday, 08 April 2018
The number of refunds and amount of dollars issued to taxpayers through the tax season through March 30 remained down from totals through March 31, 2017. Efiles by paid preparers also remained behind the 2017 season for the compared periods. But total returns received and processed have now shown an increase over a year ago for three consecutive weekly reports.
Maryland Blocked 54 Preparers to Date
- Saturday, 07 April 2018
The state of Maryland has stopped processing electronic tax returns for 54 preparers during the current tax season. Comptroller Peter Franchot said late last month his office has blocked returns from 20 more tax preparers at 24 locations in Maryland, Virginia, Texas and California, in addition to 34 previously flagged.
IRS Releases Guidance for Issues Under New Law
- Tuesday, 03 April 2018
The Internal Revenue Service has issued guidance for a variety of issues stemming from the Tax Cuts and Jobs Act. These issues include transition tax on foreign earnings, business interest expense limitations and on withholding on the transfer of partnership interest by foreign persons.
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