Advertisement
HomeCollectionsTax Law
IN THE NEWS

Tax Law

FEATURED ARTICLES
NEWS
December 23, 1993
Tax protesters present a nettlesome dilemma for the nation. We must respect their right to dissent and to publicize their views, even as we know that their cause deep in their hearts is to avoid paying for the community services that benefit us all, including them.Their bottom line is to improve their bottom line at our expense, no matter how elegantly they embroider their cloak of constitutional sophistry.There is also the suggestion that there is a cult-like network in the tax protest movement.
ARTICLES BY DATE
NEWS
May 21, 2014
Congress needs to pass the Marketplace Fairness Act (MFA) so there is real and fair competition reflecting 21st century commerce. America was built on promoting economic growth and business in a fashion that ensures fair competition for all. Today, online-only retailers are not required to charge and collect sales tax, while local businesses must. However, the sales tax (in all but five states) is still owed. The collection of these taxes is difficult to enforce unless online sellers have either a physical store or a warehouse within the state.
Advertisement
NEWS
By Laura Cadiz and Laura Cadiz,SUN STAFF | June 5, 2003
The Howard County Taxpayers Association's petition drive to reverse the county's income tax increase has hit a minor snag. After about 50 volunteers started gathering signatures this week on a petition to put the issue of raising the income tax to 3.20 percent to a countywide referendum, the group's president yesterday realized the petition's format was flawed. The phrasing on the petition of the tax law did not meet state and county guidelines, said Pat Dornan, the group's president.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | May 19, 2014
Arthur L. Rhoads Jr., a Baltimore attorney who maintained a general law practice for more than six decades, died Thursday of complications from a stroke at St. Agnes Hospital. He was 87. "He was a lawyer's lawyer and was representing the little guy, like Andy Griffith on the TV show 'Matlock' before there was a 'Matlock,' " said Andrew J. Long, who retired from the practice of law in 2001. "He was an incredible man and friend. There were no airs about him. " The son of a grocer and a homemaker, Arthur Lampe Rhoads Jr. was born and raised in Frederick, where he graduated in 1942 from St. John's High School.
BUSINESS
By EILEEN AMBROSE | June 24, 2001
MAXXED out on your retirement plan at work and wish you could salt away more? Got a late start on saving for retirement and want to catch up? If so, the new tax law has something for you. Among the highlights: A boost in contribution limits for individual retirement accounts and 401(k)s; a chance for workers 50 and older to contribute more than the new caps; a tax credit for lower-income workers saving for retirement; and a new plan with a tax-free feature. Of course, some changes will be available only if employers adopt them.
NEWS
By Neal A. Peirce | August 10, 1997
NEITHER THE PRESS nor real estate moguls seem to have noticed. But inner cities could reap a harvest of residential investment from a provision of the new budget-tax law that virtually repeals the capital gains tax on the sale of personal homes.That's surely not what President Clinton and the Republican Congress focused on when they decided to allow individuals up to $250,000, couples up to $500,000, in tax-free gains on selling their residences. The politicos were making another play to America's perennially pampered homeowners.
BUSINESS
By Karen Lazarovic and Karen Lazarovic,Columbia Features Inc | March 6, 1991
Q.I have been living with my boyfriend for two years and we are contemplating marriage. We both earn good salaries: $90,000 and $80,000 as attorneys. I have often heard of the "marriage penalty" when it comes to paying taxes. Can you explain how it would apply if we were married in 1991.A. The "marriage penalty" refers to the extra tax a couple would pay if they married and filed their tax returns jointly versus remaining single and filing as individuals.The new tax law that went into effect last fall increases that marriage penalty.
BUSINESS
By Kenneth R. Harney and Kenneth R. Harney,Washington Post Writers Group | August 24, 1997
The ink is barely dry on the 1997 tax law, but creative accountants and tax lawyers already have spotted ways for homeowners -- and other real estate owners -- to reap benefits beyond what even Congress might have contemplated.Tops on the list: Call it the serial home-sale strategy.It could save some property owners hundreds of thousands of dollars over a period of years.The technique has potential applicability to homeowners who also own a second house or condo, a vacation house or any rental residential property.
BUSINESS
By Jane Bryant Quinn and Jane Bryant Quinn,Washington Post Writers Group | August 10, 1998
IT TAKES 808 pages for CCH Inc., a tax information service, to explain the new tax law. Most of the provisions are narrow. But when they affect you, they can make a big difference. For example:reverse the transaction without penalty, as long you do so by the due date of your tax return (including extensions). To reverse it, call your Roth trustee and say you want to make the change. You'll be taxed on any money you withdraw in cash.Why would you want to switch back to a regular IRA? Two possible reasons:First, you might discover that your income exceeded $100,000, which makes you ineligible for a Roth.
NEWS
By Andrew A. Green and Andrew A. Green,Sun reporter | July 25, 2007
Upset by a report that nearly half of Maryland's major corporations didn't pay income taxes last year, Gov. Martin O'Malley said he would seriously consider pushing for "combined reporting," a tax law change that advocates say would make it hard for companies to hide their profits in other states. O'Malley, a Democrat who is developing plans to close the projected $1.5 billion annual gap between state spending and revenue, said that if citizens are going to be asked to pay more taxes, businesses should pay their fair share, too. "This is an unfairness of the tax code that would allow some of the largest and most profitable corporations in the state to pay no income tax," O'Malley said.
NEWS
By Scott Klinger | October 21, 2013
Congress seems to be focusing its austerity efforts on America's most vulnerable citizens, including those who need help feeding their families. Meanwhile, large food subsidies that benefit the most affluent Americans aren't even on the table. The House of Representatives recently voted to cut $4 billion a year from food stamps, known more formally as the Supplemental Nutrition Assistance Program (SNAP). A cut of that level would mean 3.8 million Americans would lose the help they receive to put food on their families' tables, according to the Congressional Budget Office.
NEWS
Editorial from The Aegis | July 3, 2013
A tax on gasoline went into effect in Harford County and across Maryland on Monday, adding about 4 cents to the cost of a gallon. Next year, that will increase again, and the same thing will happen the following year, then in 2016, the final increase in the gasoline sales tax will take effect. At least it will be the final increase in the rate under the tax law that went into effect this week. It is estimated that the state will take in an additional $600 million as a result of the new sales tax on gasoline, which is in addition to a flat per gallon tax of 23.5 cents the state has been charging.
NEWS
May 31, 2013
Regarding your recent editorial on combined reporting for corporate income tax in Maryland, you argue that a switch to combined reporting in favor of a 0.65 percent decrease in the corporate rate would represent only a temporary "inconvenience" (How to make Md.'s taxes more competitive," May 9). The Council On State Taxation, a trade association representing almost 600 corporations engaged in interstate commerce, including significant operations in Maryland, has found that combined reporting neither provides the panacea for perceived "hiding" of profits nor provides the "permanent" revenue benefit asserted in the editorial.
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 Scott Calvert, The Baltimore Sun | March 6, 2013
State tax officials should take steps to help ensure that Marylanders who receive the homestead property tax credit remain eligible for the popular discount, auditors said in a report released Wednesday. Auditors also said state officials should methodically review some past recipients to identify owners who have gotten large tax discounts improperly — and who should refund the government. "There are ways to be proactive about this and not depend on people providing tips," state Legislative Auditor Thomas J. Barnickel III said in an interview Wednesday.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | January 23, 2013
This is the busiest time of year for Robin McKinney. McKinney is the director and co-founder of the Maryland Creating Assets, Savings and Hope (CASH) Campaign, which provides free tax preparation for low- to moderate-income households in the state. She also lobbies state lawmakers to improve the finances of Maryland consumers during the legislative session. McKinney was an early advocate for state regulation of tax preparers who are paid to fill out people's returns. For years, anyone in Maryland could set up a business to fill out returns, which is why Marylanders could find tax preparation services springing up at gas stations and psychics' shops during tax season.
BUSINESS
By Newsday | June 14, 1992
If you're having a good year in these rough times, you may not want to tell anyone. Except the IRS. Soon.Tomorrow is the first deadline under a new law affecting a select few taxpayers who file quarterly estimated income taxes. If you're self-employed, and your earnings vary substantially year to year, you may face tough calculations before you mail that check to the Internal Revenue Service on June 15.The new rules cover people who pay taxes quarterly -- including the self-employed and others whose taxes aren't withheld from a paycheck -- and who meet these criteria: they earned more than dTC $75,000, earned $40,000 more one year than the last and made estimated tax payments in the recent past.
NEWS
January 1, 2013
We read about famous people like French film star Gerard Depardieu, who moved to Belgium to avoid a 75 percent income tax on millionaires proposed by France's Socialist government (a measure rejected last week by a French council, though French leadership has vowed to resubmit a similar proposal). Then there is Eduardo Saverin, who took the extreme step of giving up his U.S. citizenship and could see a savings of $39 million on his Facebook investment, according to the research firm Wealth-X.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | February 26, 2012
For years, anyone in Maryland could prepare tax returns for money, so it wasn't unheard of to find tax services offered at laundromats, car dealerships or palm-reader shops. The industry is no longer unregulated. Starting this year, individual tax preparers in Maryland must register with the state before they can fill out a return for a fee. They will have to undergo continuing education if they want to stay registered. And consumers now have a place to go to find out if there have been complaints or disciplinary action against a local tax preparer.
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.