Navigating Federal & State Taxes: A Practical Guide for Businesses
Date and Time
Friday Jun 27, 2025
Friday, June 27th 1:00 pm - 2:30 pm
Location
Fees/Admission
N/A
Website
Navigating Federal & State Taxes: A P...
Description
"Navigating IRS & Maryland Tax Compliance," is led by Tax Attorneys Candice Miller and Audre Sylvester of Azarvand Tax Law. This session is specifically tailored for business owners and their bookkeepers and/or accountants. During the webinar, Candice and Audre will delve into crucial topics, including:
I. Federal Tax Compliance & Updates: Gain insights into crucial federal tax matters, including:
- Proposed Trump Tax Code Changes: Understand potential impacts on your business.
- Navigating Employee Retention Credit Developments and Audit Preparation: Get the latest updates and prepare for potential scrutiny.
- Preparing for Maryland Sales & Use Tax Audits: Understand the process and how to best prepare for state-level sales tax audits.
- The Critical Implications of Worker Misclassification: Learn the crucial distinctions between Independent Contractors and Employees at both federal and state levels.
- Collection Statutes of Limitations: Understand the non-aligning IRS and Maryland timelines for collecting tax debts.
II. Resolving Federal & Maryland Tax Liabilities: Explore options for addressing outstanding tax obligations with both the IRS and the state of Maryland, including:
- Offer in Compromise: Learn about settling tax debt for a lower amount.
- Installment Agreements: Understand payment plan options.
- Currently Not Collectible Status (Federal & Maryland): Explore temporary relief from collection actions.
- Penalty Abatement (Federal & Maryland): Discover opportunities to reduce penalties.
III. Understanding Federal & Maryland Enforcement Actions: Be prepared by understanding potential enforcement actions at both federal and state levels:
- Federal Tax Liens: Learn about the IRS's claim against your property.
- Levy of Assets (Federal & Maryland): Understand the seizure of your assets to satisfy tax debt.
- Wage/Payment Garnishment (Federal & Maryland): Know how the IRS and Maryland can collect from your income or payments owed to you.
- Federal Revocation/Suspension of U.S. Passport: Understand this serious federal consequence of tax debt.
- Maryland Hold Placement on Drivers License, Vehicle Registration(s), and/or Professional License(s): Learn about potential state-level actions for tax non-compliance.
- Collection Statute of Limitations (Federal IRS vs. Maryland State): Understand the differing timelines for federal and state tax collection.
Candice and Audre will address pre-submitted questions and answer live questions if time permits.
Printed courtesy of harfordchamber.org – Contact the Harford County Chamber of Commerce for more information.
108 South Bond Street, Bel Air , MD 21014 – (410) 838-2020 – admin@harfordchamber.org