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Local News Featuring C&A Financial Services, CPA offices

"Excerpt from news article WDVM at:  https://www.localdvm.com/news/maryland/its-time-to-file-taxes-but-officials-want-people-to-be-prepared-before-they-start-filing/ "Tax officials said people should not wait to file their taxes because it could delay their return. The IRS will send people a summary of their stimulus checks to use while filling for taxes this year. For people who...

New Cryptocurrency Tax Requirements – C&A Financial Services, CPA Offices

Article Highlights: IRS Compliance Campaign New Reporting Requirement for Crypto Exchanges Form W-9 Form 1099-B Cryptocurrency as Property Digital Assets Definition Transfer Reporting Cash Transaction Reporting 1040 Crypto Question Over the last 3 years, the Internal Revenue Service has been engaged in a virtual currency compliance...

Watch Out for Tax Penalties

Article Highlights: Underpayment of Estimated Tax and Withholding Penalty Required Minimum Distribution Penalty Late-Filing Penalty Late-Payment Penalty Negligence Penalty Fraud Penalty Dishonored Check Penalty Missing ID Number Penalty Early Withdrawal Penalty Penalty for Failure to Report Tips Foreign Reporting Excessive Claim Penalty Accuracy-Related Penalty for...