Contact Mudd & Moreland, LLC in Charlotte Hall, MD

Not at all. Please drop off all tax items as soon as possible to avoid accruing high penalties and interest fees.

April 15, June 15, September 15, and January 15

Individual-October 15

The number one tax savings tools are the contributions that are made to your 401K. When you make income from a job, you can often reduce your taxable income by contributing to an employer-sponsored retirement plan or your own individual retirement account (IRA). These accounts allow you to contribute pretax dollars to invest or hold in cash for saving or for certain expenses. As a result, these contributions lower your taxable income and save you money on your tax bill.

Yes. Please call the office to schedule your consultation.

New clients should bring their prior year tax returns and their current year documents.

Clients can check the status of their refund by going to the IRS website irs.gov and clicking on the link “Where’s My Refund?”.

Yes, the federal payments can be made on the IRS website www.irs.gov. The Maryland payments can be made on the Comptroller of Maryland website www.marylandtaxes.gov.

The penalty for late payments is 1⁄2% (1/4% for months covered by an installment agreement) of the tax due for each month or part of a month your payment is late.

You have 3 years to file an amended return to request a refund.

The length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you must keep your records that support an item of income, deduction or credit shown on your tax return until the period of limitations for that tax return runs out.

The period of limitations is the period of time in which you can amend your tax return to claim a credit or refund, or the IRS can assess additional tax. The information below reflects the periods of limitations that apply to income tax returns. Unless otherwise stated, the years refer to the period after the return was filed. Returns filed before the due date are treated as filed on the due date.

Note: Keep copies of your filed tax returns. They help in preparing future tax returns and making computations if you file an amended return.

1. Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
2. Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later if you file a claim for credit or refund after you file your return.
3. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
4. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
5. Keep records indefinitely if you do not file a return.
6. Keep records indefinitely if you file a fraudulent return.
7. Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.