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Please note: The posts below will continue to be amended with the most up-to-date information to better help you navigate this novel situation.

IRS Addresses the President’s Executive Order on Employee Payroll Tax Deferral in Notice 2020-65

Posted By: Tax Department , September 2, 2020

Update:  Guidance released on August 28th clarified that taxes deferred must be withheld and remitted by employers ratably between 1/1/21 – 4/30/21.  More information is available here. On August 28, 2020, the IRS issued Notice 2020-65 that provides some needed guidance for employers wondering whether and how to comply with the employee payroll tax deferral described in…

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Important Information About IRS Tax Notices

Posted By: Tax Department , August 31, 2020

Over the past few months, taxpayers who have sent payments to the IRS have still been receiving balance due notices. This is due to an IRS backlog in processing mail because of COVID-19 related closures. In response to a letter from the chairman of the House Ways & Means Committee, the IRS is working to…

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IRS Delivers Temporary Midyear Relief to 401(K) and 403(B) Safe Harbor Plans

Posted By: Hertzbach , August 21, 2020

Plan sponsors that have already or are considering reducing or suspending contributions to their safe harbor 401(k) or 403(b) plans as a result of the coronavirus pandemic now have helpful relief thanks to new guidance from the Internal Revenue Service (IRS). In Notice 2020-52, the IRS recognized that many employers are facing unprecedented financial challenges as…

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President Enacts Option to Defer Certain Payroll Taxes Until the End Of 2020

Posted By: Hertzbach , August 17, 2020

On August 8, 2020, President Trump issued an executive order which will allow deferral of certain payroll tax payments. This action only applies to employees who generally earn less than $4,000 per biweekly pay period (approximately $2,000 per week or $104,000 annually). Such an employee may temporarily defer their portion of Social Security tax (6.2%)….

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Additional Changes to SBA PPP FAQ on August 4, 2020

Posted By: Hertzbach , August 11, 2020
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Upcoming Sales Tax Holidays

Posted By: Tax Department , August 7, 2020

Maryland and Virginia are holding sales tax holidays in the month of August. The “Shop Maryland Tax-Free Week” for 2020 is Sunday, August 9 – Saturday, August 15. Virginia is holding its annual sales tax holiday on August 7-9, 2020. See below for more details. Maryland: Dates: August 9-15 Items Included: Qualifying apparel and footwear…

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Hertzbach Resources

Hertzbach Portal and Electronic Organizer Logins

Suralink (typically used for large business engagements)

2019 - 2020 Tax Planning Guide

Families First Act Q&A

Government Response Resources

State Response Resources

Upcoming Webinars

There are no upcoming events.

A Message to Our Clients

A Message to Our Clients Regarding COVID-19


As Coronavirus (COVID-19) continues to spread across the country and the world, each person and business must take steps to protect their employees, clients, vendors, business contacts, and families.

To ensure the health of our staff, clients, business partners, family and larger community and we have decided to work remotely and close our offices to staff and visitors until further notice. Please note, we will be checking for mail and package delivery.

Please be assured, that while we remain focused on the health and safety of our professionals and those around us, we also are focused on outstanding continued service to our clients. Hertzbach has long been committed to a flexible workplace, and we have the technological, cultural and operational infrastructure for the organization to work virtually, and will continue to deliver the level of quality, excellence and timeliness you are accustomed to from us during these unique circumstances. Our staff is currently working from home on the same computer systems and client work as if they were in the office.

In this very busy time of year, we also strongly recommend our clients take advantage of this flexibility to limit your need to travel or leave your home given the current environment. Please do not drop off information at the office. We would prefer that you either send it via FedEx or UPS or send it though electronic means. Overnight packages and mail will be received and monitored during the week and converted to electronic documents.

As such, currently, we strongly encourage electronic delivery of your information and remind you of your choices in getting documents securely to us. As always, the security of your data is paramount in this process, so please use one of our secure solutions to deliver your information.

Hertzbach & Company Portal and Electronic Organizer Logins:

https://www.hertzbach.com/resources/login-portals/

Suralink  (typically used for large business engagements)

https://hertzbach.suralink.com/index.php

While most of our clients are already utilizing these products, please reach out to your accountant directly should you need to get set up on a portal or have any questions or concerns.

The United States Secretary of the Treasury announced yesterday that 2019 federal tax payments of up to one million dollars for individuals, including those with pass through entities, and ten million dollars for c-corporations will have an additional ninety days for payment without penalty or interest. The State of Maryland has also released guidance providing a ninety-day extension of 2019 income tax payments without penalty or interest.  While we don’t currently know all of the specifics, this will ease the urgency of filing by April 15th for many of our clients.  However, as always, we are committed to completing as many returns as possible by the filing deadline.  We will provide specifics on Federal and State tax measures and updated procedures over the next few days and as information becomes available.  We continue to monitor these evolving filing policies which may be modified due to the virus and will keep you informed as to this situation as quickly as the information is available to us.

We are all very much looking forward to returning to our normal routines and meeting with you in person. Wishing you good health and continued success.

Fondly,         Joel B. Chazen Managing Partner Hertzbach & Company, P.A    

Lets work remotely, together.

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You’ve got questions, and we have answers!

OTR’s customer representatives are available to assist you Monday- Friday, 8:15 am – 5:30 pm.

Customer Service Administration: (202) 727- 4TAX (4829)

Collection Division: (202) 724-5045

E-Services: (202) 759-1946

Do you need to register your business with Virginia Tax? Use our helpful checklist!

Link: https://www.tax.virginia.gov/news/need-register-business-use-our-checklist