Nonresident Income Tax Returns

Do I Need to File a Nonresident Income Tax Return?

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Many people who live in Maryland work in other states, and many people who live in other states maintain employment here in Maryland. This is true of full-time, part-time, and self-employed individuals, and it’s especially common for residents of the greater Baltimore area. Living and working in two different areas can make things a bit tricky during tax season, so we want to clear up any confusion and make things as simple as possible for you when it comes time to file your returns this spring.

Keep reading to learn more about nonresident returns, including when you’re required to file a nonresident return and even some instances where people who live and work in different states are not required to file a nonresident return. And, as always, if you have any questions about your filing status or other issues, please reach out to our team at S.H. Block Tax Services for help. Read more

Work Opportunity Tax Credit

The Work Opportunity Tax Credit Could Impact Your Bottom Line

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Your business might be eligible for the Work Opportunity Tax Credit if you’ve hired people with histories that might have otherwise prevented them from securing gainful employment.

Keep reading to learn how the Work Opportunity Tax Credit (WOTC) incentivizes diverse hiring practices while also giving marginalized members of society and struggling individuals a chance at a new start. Read more

Independent Contractor Income Tax

New Law Creates Income Tax Cut for Independent Contractors

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While the merits and drawbacks of the Tax Cuts and Jobs Act are subject to constant debate on cable news networks and at water coolers around the country, experts from both sides of the political aisle agree the bill was designed to create significant tax cuts for corporations and wealthy individuals. However, if you look closer, the law also contains potentially valuable tax cuts for independent contractors and the self-employed.

Keep reading to learn how you could potentially save big or even increase your refund this tax season if you’ll be filing as an independent contractor or a self-employed individual. Read more

Currently Not Collectible

S.H. Block Tax Services Can Help You File for CNC Status

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Our office has received several phone calls about filing for currently not collectible (CNC) status recently, but most of those callers had little knowledge about what the program entails or their potential eligibility. Of course, we’re happy to help anyone who comes to us with tax problems, but we thought we would take the opportunity to define CNC and clarify some of the more common misconceptions about what the program does and who might qualify.

Keep reading to learn whether you might be eligible for CNC and find out how S.H. Block Tax Services can help you file for consideration. Read more

Vacation Rental Home Taxes

What a Trip! 5 Tax Tips for Vacation Rental Owners

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In recent years, vacation rental homes have become one of the preferred travel options for jet-setters around the world — especially in the United States. Companies like Airbnb, VRBO, and FlipKey have created a vacationing model that is both affordable and comfortable, and this model also provides a more authentic experience for visitors and their families compared to a traditional hotel.

Despite the rise of this business model and the resulting profits, many owners don’t know that income from renting out their homes (or rooms in their homes) to vacationers is taxable, which could lead to complications come tax season.

Keep reading to learn five tax tips that could minimize or even eliminate taxes from renting out your home with Airbnb or a similar service. Read more

Tax-Related License Hold

Need Help Releasing a Tax-Related License Hold? S.H. Block Tax Services Is Here to Help

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Every day, millions of Maryland residents rely on their state-issued drivers’ and business licenses to earn a paycheck, take care of their families, and have fun during their free time. Our cars, trucks, motorcycles, and professions enrich our lives and allow us to prosper as productive members of our communities.

Still, operating a business or vehicle in Maryland is a privilege that you should never take lightly, especially since our state government can revoke that privilege at any time. In recent years, the IRS and the State of Maryland have undertaken more aggressive collection efforts, and they know license holds are an extremely effective tactic. If you owe outstanding taxes or have failed to file your personal or business returns in recent years, this initiative could directly affect you.

Keep reading to learn how S.H. Block Tax Services can help lift your tax-related license hold by minimizing or even eliminating your tax liability. Read more

Tax Extension

An Extension to File Your Taxes Is Not an Extension to Pay Your Taxes

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An Extension to File Is Not an Extension to Pay — Contact S.H. Block Today to Resolve Outstanding Liabilities

If you requested an extension to file your taxes last spring, you weren’t alone: the IRS estimates that more than 11 million people applied for an extension to file their taxes in 2017. Yet despite so many taxpayers choosing this option, our team at S.H. Block meets dozens of clients every fall who don’t understand what their approved extension means and how it could lead to additional penalties and interest that increase the overall tax debt.

Keep reading to learn about how these extensions work and what to expect as you prepare for the late-filing deadline on Monday, October 15. Read more

Currently Not Collectible

Are You Eligible for Currently Not Collectible (CNC) Status?

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If you owe the IRS or State of Maryland back taxes but are unable to pay them because of other financial obligations, you might be eligible for Currently Not Collectible (CNC) status. CNC status is a special designation which gives taxpayers a temporary hold on collections, during which time they are “protected” from collection efforts.

Keep reading to learn more about Currently Not Collectible status, your potential eligibility for the program, and how to request CNC status. Read more

5 Common Tax Myths Debunked College Student

5 Common Tax Myths Debunked

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Myths surrounding income taxes are as common as mosquitoes this time of year. Everyone wants to save money (we want you to save money, too), but people have a habit of believing these myths and getting into hot water with the IRS or State of Maryland. Some of these tall tales are actually rooted in fact, but most of them are pure fantasy. Keep reading to learn about the most frequent myths we hear at S.H. Block Tax Services, as well as the origin of each and whether there’s even a shred of truth to the fiction. Read more

Identity Theft Tax Fraud

Identity Theft, Tax Fraud, and Protecting Your Anonymity

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If someone has stolen your identity, there are several outcomes, and none of them are pretty. Identity theft can decimate your credit, empty your bank account, and rack up your bills — fast!

Not only that, but identity thieves also sometimes use their victims’ identities to file fraudulent returns and steal their refunds. In fact, according to the IRS, identity theft has become the most common form of tax fraud in the United States.

Keep reading to learn more about this growing problem, as well as some proven methods to protect yourself from identity thieves. Read more