Advertisement
HomeCollectionsTax Exemption
IN THE NEWS

Tax Exemption

FEATURED ARTICLES
NEWS
February 23, 2012
So now the Republicans want to turn the debate over requiring insurance companies to cover contraceptives into a debate about religious freedom? They argue no one should be forced to support (with their tax dollars) activities that conflict with their religious views. I'll set aside for the moment the argument that insurers covering free contraceptives actually save money in the long run due to reduced health-care costs. I'll also set aside the fact that most Catholic women don't agree with the all-male bishopric that is setting the rules for them.
ARTICLES BY DATE
BUSINESS
By Jeff Barker and The Baltimore Sun | September 21, 2014
Several U.S. senators have proposed stripping the NFL of its tax-exempt status — a warning analysts say the image-damaged league can't afford to ignore even if the threat proves hollow. Just as it did during Major League Baseball's steroid scandal nearly a decade ago, Congress is using its bully pulpit — and threatening legislation — to prod change on another of the nation's pastimes. Lawmakers introduced bills last week threatening to revoke the league's tax exemption for two different reasons.
Advertisement
NEWS
By Dutch Ruppersberger | April 15, 2013
Local government is truly where the rubber meets the road. As Baltimore County executive, I proudly oversaw capital projects ranging from the restoration of the Randallstown Library after a fire to the expansion of Cromwell Valley Park. We rebuilt Essex Elementary School and constructed a new interchange at I-795 and Dolfield Road in Owings Mills. We were able to pay for these and dozens of other projects - which improved the everyday lives of thousands of people - with the help of tax-exempt municipal bonds.
NEWS
July 2, 2014
Columnist Robert L. Ehrlich Jr.'s Sunday rant about the IRS' alleged targeting of conservative groups ( "Why no outrage over the IRS' tea party targeting?" June 29) raised a basic question in my mind: Why should tea party groups get tax exempt status? The tea party groups are clearly partisan Republican organizations, as reams of news copy dissecting "tea party vs. corporate GOP" primary battles make clear. Certainly some people drawn to these groups are disgusted with the general state of politics and its purveyors, such as Mr. Ehrlich.
BUSINESS
By Michael Gisriel | October 2, 1994
Q: My question involves the one-time $125,000 capital gains tax exclusion that people age 55 or over can claim when they sell a home. Can I sell my house at age 53 years and six months, not buy another house, and then wait until I am 55 to exercise my one-time capital gains exclusion? Also, what are the rules if two ,, individuals over 55 are contemplating getting married, and both own homes?W. Gaddis, Bel AirA: Technically speaking, if neither you nor your spouse is at least 55 years old when you settle on the sale of your existing house, then you do not qualify for the IRC Section 121 one-time capital gains tax exemption that allows older homeowners to keep up to $125,000 of their resale profits tax free.
NEWS
By Dennis O'Brien and Dennis O'Brien,SUN STAFF | January 5, 2001
In a split decision, Maryland's highest court ruled yesterday that the Archdiocese of Baltimore does not have to pay taxes on 16 1/2 acres of church property that state assessors argued were not being used for religious purposes. The Court of Appeals ruled 4-3 that the tract, part of St. Francis Xavier Roman Catholic Church on Cuba Road in Hunt Valley, is tax-exempt though it is designated as open space. Saul E. Gilstein, a lawyer for the archdiocese, said the ruling will keep state assessors from trying to tax tracts used by houses of worship.
BUSINESS
By Michael Gisriel | August 6, 1995
Q: My question involves the one-time $125,000 capital gains tax exclusion that people age 55 or over can claim when they sell a home.Can I sell my house at age 53 years and six months, not buy another house, and then wait until I am 55 to exercise my one-time capital gains exclusion?Also, what are the rules if two individuals over 55 are contemplating getting married and both own homes?Fred Sweitzer, MonktonA: Technically speaking, if neither you nor your spouse is at least 55 years old when you settle on the sale of your existing house, then you do not qualify for the IRS Section 121 one-time capital gains tax exemption that allows older homeowners to keep up to $125,000 of their resale profits tax free.
NEWS
By Leonard Pitts Jr | May 16, 2013
Well, this is a fine mess. After years of moaning about various "conspiracies" against them, conservative activists finally have a real (i.e., not manufactured by Fox or inflated by Rush Limbaugh) piece of evidence to take before the court of public opinion. Meaning, of course, last week's revelation that the Internal Revenue Service has been giving extra scrutiny to groups with the words "tea party" or "patriot" in their names. Extra scrutiny from the IRS is about as welcome as extra scrutiny from the proctologist, so one can hardly blame conservative groups for complaining, as they've done since last year.
BUSINESS
By M. William Salganik and M. William Salganik,SUN STAFF | November 28, 2002
CareFirst BlueCross BlueShield failed to provide public benefits in exchange for $21 million in tax breaks last year, Insurance Commissioner Steven B. Larsen said in an order made public yesterday. Larsen's order gives CareFirst a year to come into compliance with the state law on premium taxes. The issue is actually moot since another law passed this year will divert the tax money next year to support a prescription drug program for low-income elderly, so there can be no future debate about how CareFirst uses its break.
BUSINESS
By Michael Gisriel | August 28, 1994
Q: My husband and I own a vacation home in Ocean City. We have decided to sell it because we don't use it as much as we used to. Since we are both in our 60s, can we use the "over-55" capital gains tax exemption to keep any gain from the sale of our beach property tax-free?C. Tosler, ColumbiaA: Unfortunately, you cannot. There are three basic requirements set out in Internal Revenue Code 121 -- that is the "over-55" tax exemption that allows older homeowners to keep up to $125,000 of their resale profits tax-free.
NEWS
By Alison Knezevich, The Baltimore Sun | January 10, 2014
Baltimore County Executive Kevin Kamenetz hopes to convince state lawmakers to exempt county government vehicles from the state gas tax. Kamenetz announced his legislative agenda this week as the General Assembly convened in Annapolis. His administration says exempting county vehicles from the state tax would save about $1.6 million, with roughly $1 million in savings from county government and the rest from the county schools. Together, the county government and school system spend $19 million a year on fuel, county officials say. State-owned vehicles are exempt from the tax. Also during the session, the county plans to push for the restoration of so-called "highway user funds," which is the portion of state gas tax and motor vehicle fees given to local governments for road projects.
NEWS
By Michael Dresser and Erin Cox, The Baltimore Sun | November 11, 2013
Maryland Democratic gubernatorial candidate Anthony G. Brown marked Veterans Day on Monday by releasing a five-part plan for former members of the armed forces, including a tax break and help with employment and housing. Brown, the lieutenant governor and a colonel in the Army Reserve, issued what he called his "Compact with Maryland Veterans" Monday with little fanfare on a day when he avoided scheduling campaign appearances and instead attended ceremonial functions in his official capacity.
NEWS
May 21, 2013
Congress passes laws and usually the appropriate agency can write regulations implementing the law. However, the regulations cannot contradict the law. Nevertheless, with respect to the tax law provision 501(c)(4), that is exactly what happened. Under this provision, the government provides a tax exemption to nonprofit organizations who operate exclusively for social welfare ("White House aide: Obama didn't know of IRS policy," May 20). The implementing regulation and the advice from the IRS is self-contradictory.
NEWS
By Leonard Pitts Jr | May 16, 2013
Well, this is a fine mess. After years of moaning about various "conspiracies" against them, conservative activists finally have a real (i.e., not manufactured by Fox or inflated by Rush Limbaugh) piece of evidence to take before the court of public opinion. Meaning, of course, last week's revelation that the Internal Revenue Service has been giving extra scrutiny to groups with the words "tea party" or "patriot" in their names. Extra scrutiny from the IRS is about as welcome as extra scrutiny from the proctologist, so one can hardly blame conservative groups for complaining, as they've done since last year.
NEWS
May 13, 2013
Loyal readers of this page are likely aware that we have not been great supporters of the tea party movement. Too often, we have found those anti-tax crusaders who call themselves tea party patriots are simply rebranded John Birch Society members of an earlier time with all the extremist anti-civil rights, anti-immigration, and anti-United Nations rhetoric that comes with it. But the latest disclosure - gleaned from a draft inspector general's report...
NEWS
By Dutch Ruppersberger | April 15, 2013
Local government is truly where the rubber meets the road. As Baltimore County executive, I proudly oversaw capital projects ranging from the restoration of the Randallstown Library after a fire to the expansion of Cromwell Valley Park. We rebuilt Essex Elementary School and constructed a new interchange at I-795 and Dolfield Road in Owings Mills. We were able to pay for these and dozens of other projects - which improved the everyday lives of thousands of people - with the help of tax-exempt municipal bonds.
BUSINESS
By Michael Gisriel | March 31, 1996
Dear Mr. Gisriel: My question involves the one-time $125,000 capital gains tax exclusion that people age 55 or over can claim when they sell a home.Can I sell my house at age 53 years and six months, not buy another house, and then wait until I am 55 to exercise my one-time capital gains exclusion?Also, what are the rules if two individuals over 55 are contemplating getting married and both own homes?Ralph PitlerTowsonDear Mr. Pitler: Technically speaking, if neither you nor your spouse is at least 55 years old when you settle on the sale of your existing house, then you do not qualify for the IRS Section 121 one-time capital gains tax exemption that allows older homeowners to keep up to $125,000 of their resale profits tax free.
BUSINESS
May 23, 1996
Take tax exemption, summer workers urgedAttention, summer workers!If you expect to earn less than $6,400 a year, you can avoid having state taxes withheld from your paycheck. The interest-free loan to the state isn't worth the hassle of processing paperwork and issuing refund checks.That's the message Maryland Comptroller Louis L. Goldstein wants to send to students planning to hold jobs this summer.Every year, his office mails out about 176,000 tax refunds to summer workers who could have had slightly bigger paychecks.
NEWS
July 5, 2012
While not a member of the flock, I think some of the Catholic Church's recent actions in the political arena might hold good news for the rest of us. In Maryland, for example, the church has announced plans to help overturn the gay marriage law, as well as to ensure that Catholic organizations don't have to provide birth control. Having so obviously violated the separation of church and state, the church should also be forfeiting its tax-exempt status. As a Baltimore taxpayer, I pay the highest property taxes in the state.
Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.