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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.

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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Borrower Accounting for PPP Loans

Posted By: Hertzbach , August 4, 2020

Although the legal form of the PPP loan is debt, some believe the loan is, in substance, a government grant. This has caused confusion on how borrowers should account for the loans under Generally Accepted Accounting Principles (GAAP). There is no guidance in existing GAAP that specifically addresses the accounting for forgivable loans obtained from,…

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Notice: Paycheck Protection Program has reopened.

Posted By: Hertzbach , July 6, 2020

The Paycheck Protection Program began accepting new applications July 6, 2020, at 9:00 AM EDT in response to the Paycheck Protection Program Extension Act. The new deadline to apply for a Paycheck Protection Program loan is August 8, 2020. https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program  

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IRS Confirms July 15th Deadline Won’t be Pushed Back Again

Posted By: Tax Department , June 30, 2020

On June 29, 2020 the IRS confirmed that the July 15th tax deadline will not be pushed off again.  Taxpayers who will not be able to file their returns by this date should file automatic extensions.  However, taxpayers that will owe taxes will still need to pay by July 15th, or face penalties and interest….

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New PPP Loan Forgiveness Applications

Posted By: Hertzbach , June 18, 2020

This article was published on June 18, 2020. The SBA has finally released updated Paycheck Protection Program (PPP) Loan Forgiveness Applications and instructions. You read that right, two forgiveness applications were released. The initially released PPP Loan Forgiveness Application (Form 3508) combined the instructions and the various parts of the application into a single 11…

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IRS Extends Due Dates on Balance Due Notices

Posted By: Tax Department , June 16, 2020

Due to the COVID-19 pandemic, the IRS was unable to mail some previously printed balance due notices.  As a result taxpayers may receive notices with due dates that have already passed.  The IRS has extended due dates on all notices indicating a balance due which are currently being sent out. If a notice is received…

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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.

Stay up to date

This Revenews episode, we've broken down everything you need to know about #ShopMDTaxFree! We talk with @MDRetailAssoc President Cailey Locklair, then Josh Levinson, co-owner of Charm City Run about their #ShopMDTaxFree offerings. Take a listen here: http://bit.ly/ShopMDTaxFree!

🚨Tax Free Week has begun! 🚨 Until Saturday, Aug. 15, shoppers don’t have to pay the 6% Sales tax on eligible purchases of up to $100. Information on eligible items and a $1k college scholarship sponsored by @MDRetailAssoc can be found here: https://content.govdelivery.com/accounts/MDCOMP/bulletins/2990815 #ShopLocal

Virginia Tax Facts: Reasons to file an amended tax return in Virginia:
✅Changes to your federal return
✅Certain IRS notices and federal tax adjustments
✅Changes to another state’s return affecting your Virginia return
✅Correcting an error
More info: https://bit.ly/3kwr6x9