Tax Year

Millions of Americans filed their taxes last week, and many missed the opportunity to open an IRA and stash money away for retirement. They may have flirted with the idea of funding an individual retirement account, and then discarded the idea as the countdown to file taxes pressured them into a tizzy. Others peered into their bank accounts and felt like Old Mother Hubbard looking into an empty cupboard. Yet if you were among those who considered an IRA and then let the opportunity pass you by during tax time, you don't have to give up for the next 12 months.

Legg Mason Inc. reported Tuesday that it earned $29.2 million in its fourth quarter, down about 62 percent from a year earlier due to added real estate expenses. The Baltimore-based money manager's results still beat analysts' expectations, and its stock ended the day up 48 cents at $31.86 per share. On a per-share basis, Legg earned 23 cents, exceeding analysts' expectations by 3 cents per share for the three months ended March 31. A year earlier, Legg earned $76.1 million, or 54 cents per share.

Maryland homeowners could lose out on hundreds of dollars in tax bill savings if they miss a deadline that's a week away. Many may not realize they must sign up for the Homestead Tax Credit, which saved the average Baltimore homeowner more than $1,000 in the most recent tax year. To receive the credit in property tax bills starting this July, homeowners must sign up by Dec. 31. "When you say the words 'tax credit' to some homeowners, it doesn't really resonate what they're getting out of it," Baltimore City Councilman Nick Mosby said.

For taxpayers who work best under the pressure of a deadline ... well, that's now. Returns must be filed by the end of Monday. But there's always a risk when scrambling to get returns in under the wire. You might make a mistake or overlook a valuable tax break. To avoid that, here are some tips for last-minute filers: File for free: The Internal Revenue Service partners with tax preparation companies to provide free online filing of federal returns if your adjusted gross income is $57,000 or less.

For taxpayers who work best under the pressure of a deadline ... well, that's now. Returns must be filed by the end of Monday. But there's always a risk when scrambling to get returns in under the wire. You might make a mistake or overlook a valuable tax break. To avoid that, here are some tips for last-minute filers: File for free: The Internal Revenue Service partners with tax preparation companies to provide free online filing of federal returns if your adjusted gross income is $57,000 or less.

Enjoyed looking at homes with top property-tax bills in Harford County ? Now you can check out the expansive houses that made the top 10 in pricey Howard County. Here's our new photo gallery , which ranks owner-occupied properties for the tax year that ended June 30. Ellicott City is the clear favorite for Howard's affluent residents: All but one of the top-taxed homes is in that community, which stretches from the more-developed east side of the county to its rural west.

If you're a homeowner making $60,000 or less, you might qualify for help on your property taxes. But the deadline to apply is fast approaching. The Homeowners' Property Tax Credit , intended to help low- and moderate-income owners, caps the amount you must pay based on your income. The limit ranges from $4,380 as the maximum tab for eligible recipients making $60,000, all the way down to $0 for those with $8,000 or less in household income. The basic rules go like this: No more than $60,000 in total household income, and a net worth of less than $200,000 -- not including the value of the home and any qualified retirement savings.

Legg Mason Inc. reported Tuesday that it earned $29.2 million in its fourth quarter, down about 62 percent from a year earlier due to added real estate expenses. The Baltimore-based money manager's results still beat analysts' expectations, and its stock ended the day up 48 cents at $31.86 per share. On a per-share basis, Legg earned 23 cents, exceeding analysts' expectations by 3 cents per share for the three months ended March 31. A year earlier, Legg earned $76.1 million, or 54 cents per share.

Do you accept a federal panel's recommendations that women should get mammograms starting at age 50 instead of age 40, and then only every other year? Yes 10% No 86% Not sure 4% (936 votes, results not scientific) Next poll: : The number of millionaires in Maryland declined 30 percent last year. Do you think the blame for this belongs primarily to the "millionaire's tax" the state imposed beginning in the 2008 tax year? Vote at baltimoresun.

Getting a break on your bill from the Homestead Property Tax Credit? If you're among the 150,000 or so who haven't yet applied for the credit, a new(ish) one-time requirement, then make sure you get that form in by the end of the year. Those who miss the deadline will lose their credit in the 2013 tax year , which begins July 1 of next year. Poof, gone. The good news for confused homeowners who do manage to miss out is that you can at least get your credit restored for the 2014 tax year -- the amount you would have gotten if you had applied on time, rather than starting from scratch.

Prepare for a whole lot more numbers. We've added to our collection of property tax databases the information for another county: Howard . This searchable database harbors records reflecting the bills for the tax year ending June 30, 2012. There are a variety of search options (owner name, address, city, etc.). Use the sliders in the advanced search to narrow down the field but be careful - even with 94,479 records, twisting too many knobs may leave you with no results. To view the database in its entirety, simply make a blank search.

Here's a question for you Maryland taxpayers out there: Would you rather pay a higher tax on many items you purchase each day or on something you may buy perhaps once a week (a commodity that's actually decreased in price nearly 20 percent in recent months, by the way)? Surely, most people would choose the latter. But there's another way to look at it: Would you rather see the Maryland sales tax rise after enduring a similar increase a mere five years ago, or see the gas tax rise after a 20-year freeze?

Maryland homeowners could lose out on hundreds of dollars in tax bill savings if they miss a deadline that's a week away. Many may not realize they must sign up for the Homestead Tax Credit, which saved the average Baltimore homeowner more than $1,000 in the most recent tax year. To receive the credit in property tax bills starting this July, homeowners must sign up by Dec. 31. "When you say the words 'tax credit' to some homeowners, it doesn't really resonate what they're getting out of it," Baltimore City Councilman Nick Mosby said.

Maryland's Comptroller Peter Franchot this morning released a statement, refuting a report in the Washington Time's that same-sex couples won't be able to file joint returns in Maryland. Voters here recently approved same-sex marriage in Maryland, which takes effect next year. The story apparently was picked up by the Associated Press: “ANNAPOLIS, Md. (AP) - The Maryland comptroller's office says same-sex married couples will not be permitted to file joint tax returns in the state.

If you're sure your property is worth less than the state says it is, you might want to contest it. This heads up is brought to you by RG Steel, which struck a deal -- after several years of appeals -- that reduces its taxes on the Sparrows Point steel mill by about $830,000. Odds are, you're not in a position to save quite that much. But it's a helpful reminder nonetheless. A rundown of the Sparrows Point situation , in case you're curious: RG Steel filed for bankruptcy in May, so cash-strapped that it estimated it had more than 1,000 creditors -- Baltimore County among them.

RG Steel is asking for U.S. Bankruptcy Court approval for a settlement with Maryland that lowers its Sparrows Point property assessment, reducing its Baltimore County bill for the past three tax years. The steel mill owner calculated in a court filing that its tax bill would fall about $830,000 for the 2011 tax year. It didn't note the effect for previous years. RG Steel said it won a $34 million reduction on the property's 2009 assessed value - to just under $204 million - in Maryland Tax Court in August.

Prepare for a whole lot more numbers. We've added to our collection of property tax databases the information for another county: Howard . This searchable database harbors records reflecting the bills for the tax year ending June 30, 2012. There are a variety of search options (owner name, address, city, etc.). Use the sliders in the advanced search to narrow down the field but be careful - even with 94,479 records, twisting too many knobs may leave you with no results. To view the database in its entirety, simply make a blank search.

The reminders are coming more frequently now, but plenty of homeowners don't seem to have gotten the message. More than 100,000 Maryland homeowners haven't yet applied for a property-tax break known as the homestead credit , which this year is reducing the average Baltimore recipient's bill by more than $1,000. Some owners have received the break for years, but they'll lose it next tax year if they don't turn in an application by Dec. 31. The General Assembly voted the requirement into law five years ago in an effort to root out homestead credits going to non-homesteads such as rentals.

If you're a homeowner making $60,000 or less, you might qualify for help on your property taxes. But the deadline to apply is fast approaching. The Homeowners' Property Tax Credit , intended to help low- and moderate-income owners, caps the amount you must pay based on your income. The limit ranges from $4,380 as the maximum tab for eligible recipients making $60,000, all the way down to $0 for those with $8,000 or less in household income. The basic rules go like this: No more than $60,000 in total household income, and a net worth of less than $200,000 -- not including the value of the home and any qualified retirement savings.