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By Gail Marksjarvis and Gail Marksjarvis,Chciago Tribune | April 22, 2007
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.
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NEWS
July 30, 2014
It is not surprising that The Sun would want to spend even more money on the Earned Income Tax Credit, despite the fact that the Treasury Department reports that one-fourth of the recipients get the credit fraudulently ( "Ryan's safety net," July 30). Fraud accounted for at least $13 billion in the 2013 tax year alone. I suppose the one-fourth fraudulent rate for the EITC is considered a grand success by The Sun. Perhaps everyone could agree the EITC should be expanded as long as the safeguards are improved to prevent those unqualified from receiving the credit.
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BUSINESS
Jamie Smith Hopkins | August 3, 2012
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.
NEWS
AEGIS STAFF REPORT | March 6, 2014
For the last month, Harford County AARP Tax-Aide Program volunteers have been preparing for free, federal and Maryland tax return forms for the 2013 tax year for middle and low income taxpayers, with special attention given to those 60 and older. It continues through Tax Day. This popular community service program is administered by the AARP Foundation in cooperation with the IRS and the state of Maryland. It is staffed entirely by volunteers. Clients do not have to be AARP members.
NEWS
November 25, 2009
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.
BUSINESS
February 26, 1997
Members of the Maryland Association of Certified Public Accountants are answering readers' tax questions through April 15.Q. Is is possible to make a 1995 contribution to my recently opened IRA account and then file an amended 1995 tax return? I opened the account in 1996 and have already made my full contribution for that year.A. To claim a contribution for 1995, you must have made the contribution before April 15, 1996, and notified the sponsor that the contribution applied to the 1995 tax year.
NEWS
By Scott Calvert and Jamie Smith Hopkins, The Baltimore Sun | April 30, 2012
It's been about a year and a half since former first daughter Jenna Bush Hager and her husband, Henry, reportedly left their South Baltimore rowhouse for new digs in Manhattan. But Henry Hager still owns the Baltimore place — and the couple still enjoys a property tax break that's supposed to be available only to owner-occupants. The Hagers' tax credit this year is small: a $296.40 discount on a tax bill approaching $9,000. Still, why would they get any break as absentee owners? On Friday, a Baltimore Sun reporter knocked on the door of the Hagers' home.
NEWS
By Scott Calvert, The Baltimore Sun | May 2, 2012
Henry Hager, the husband of former first daughter Jenna Bush Hager, is entitled to a $296 property tax discount on his South Baltimore rowhouse for the current tax year, the state Department of Assessments and Taxation says. An article Tuesday in The Baltimore Sun questioned the validity of Hager's homestead credit for the year that began July 1. The credit program is supposed to be available only to owner-occupants, and Hager has rented out the house since August - nearly the entire tax year.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | July 14, 2010
An error in the state's computerized property records prompted Baltimore tax collectors to send incorrect bills to nearly 8,000 city homeowners in the last few weeks — including some who were told they were overdue to the tune of thousands of dollars. Owen C. Charles, supervisor of the state Department of Assessments and Taxation office in Baltimore, said a programming mix-up in his office's database of city properties changed the dollar amount of tax credits the homeowners were due. Once the wrong information got to the city, it was automatically used to generate bills.
BUSINESS
March 30, 2008
Editor's note: Every Sunday through the end of tax season, The Sun will run an edited transcript of Baltimoresun.com's weekly tax advice column featuring experts from the Sparks accounting firm SC&H Group who will answer reader questions. Submit questions at www.baltimoresun.com/ taxtalk Can I claim my mother as a dependent if I provide 50 percent or more of her care? - Sandra, Boone, N.C. There are four tests that must be met in order to be classified as a qualifying relative that would entitle you to claim your mother as your dependent.
BUSINESS
By Natalie Sherman, The Baltimore Sun | January 31, 2014
An estimated 20,000 households in Baltimore City are missing out on tax refunds, leaving unclaimed some $50 million that advocates said could help lift them out of poverty. IRS Commissioner John Koskinen marked Friday, the first day his agency started to accept 2013 returns, by urging Baltimore families to seek free tax preparation help. "It may take me a little while to convince people we're from the IRS and we're here to help you," Koskinen said to laughs at a press conference hosted by the Baltimore CASH Campaign.
NEWS
By Robert B. Reich | December 18, 2013
It's charity time, and not just because the holiday season reminds us to be charitable. As the tax year draws to a close, the charitable tax deduction beckons. America's wealthy are its largest beneficiaries. According to the Congressional Budget Office, $33 billion of last year's $39 billion in total charitable deductions went to the richest 20 percent of Americans, of whom the richest 1 percent reaped the lion's share. The generosity of the super-rich is sometimes proffered as evidence they're contributing as much to the nation's well-being as they did decades ago, when they paid a much larger share of their earnings in taxes.
NEWS
By Scott Calvert, The Baltimore Sun | October 17, 2013
The number: $15.9 million What it is: The amount of money Mayor Stephanie Rawlings-Blake says the city's Billing Integrity Unit has "recouped" since 2011 by catching erroneous tax breaks and other tax billing problems. How it breaks down: The mayor's office says the unit has sleuthed out errors with four types of tax breaks, whether because the break was too high or the property didn't qualify. Fixing those errors, officials say, has generated major additional tax revenue for the city.
NEWS
By Scott Calvert, The Baltimore Sun | June 3, 2013
Baltimore Circuit Court Clerk Frank M. Conaway Sr. reacted with disbelief upon hearing that an illegitimate tax break was inexplicably on the property tax bill for a rental home he owns in Northwest Baltimore — again. "No, it's not," he insisted recently to a reporter. Yet there it was, in black and white: City records showed Conaway wrongly received a $396 homestead credit on the house for the current tax year, which started last July. Conaway thought he'd resolved this issue for good.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | April 30, 2013
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.
NEWS
By Scott Calvert, The Baltimore Sun | April 30, 2013
A top aide to Mayor Stephanie Rawlings-Blake received more than $14,000 in homestead property tax breaks on an East Baltimore rental property he owns, records show, even though only owner-occupied homes qualify for the subsidy under Maryland law. State officials recognized the issue several months ago, and in January the city sent a bill to Khalil Zaied, the mayor's deputy chief of operations, demanding repayment of more than $5,000 for the tax...
NEWS
July 30, 2014
It is not surprising that The Sun would want to spend even more money on the Earned Income Tax Credit, despite the fact that the Treasury Department reports that one-fourth of the recipients get the credit fraudulently ( "Ryan's safety net," July 30). Fraud accounted for at least $13 billion in the 2013 tax year alone. I suppose the one-fourth fraudulent rate for the EITC is considered a grand success by The Sun. Perhaps everyone could agree the EITC should be expanded as long as the safeguards are improved to prevent those unqualified from receiving the credit.
BUSINESS
By Eileen Ambrose, The Baltimore Sun | April 14, 2013
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.
BUSINESS
Greg Kohn | March 28, 2013
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.
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