Thursday, May 16, 2013
Town of Chevy Chase residents still will have to pay the county's property tax.
The Town of Chevy Chase Council voted last week to eliminate the town's property tax for town residents. But town residents—as well as all other residents of Montgomery County who own property—still will have to pay property tax to the county. The Montgomery County Council voted this week to raise the property tax for a third consecutive year, Council member Phil Andrews said in a statement. According to a Council statement on the budget, "[because] property assessments still reflect the impact of the recession, the weighted property tax rate will increase by 1.8 cents" for every $100 of assessed value of the property, starting on July 1, 2013, the first day of the 2014 fiscal year. That means that the property tax for fiscal year 2014 …
Sunday, April 21, 2013
New data identifies the most likely tax cheats.
If you are a small business owner in one of 38 Maryland cities identified by the National Tax Payer Advocate, you may be at higher risk of an IRS audit. Using data from 2009 tax returns, the National Tax Payer Advocate focused on sole proprietorships—which make up approximately two-thirds of all U.S. businesses—in an attempt to uncover where the most likely tax cheats were located in 350 communities across the country, according to a recent Associated Press report. About 10 percent of them are in Maryland. A 2012 Forbes article discovered a trend that the IRS is “focusing greater resources on small and medium businesses,” which are defined as having between $10 million and $250 million in assets. The data reviewed by the National Tax Payer…
Monday, April 15, 2013
You'll just need to say the tax-related password.
April 15th has rolled around once again, and at least one Bethesda business is offering up a tax day treat. Cal-mex favorite California Tortilla is serving up a free order of chips and queso to the tax weary, a welcome reward whether you're reveling in your refund or pinching pennies after paying Uncle Sam. Just say the password -- "1040" -- when purchasing any item. The newly renovated and re-located Bethesda California Tortilla is located at 4871 Cordell Avenue, at the corner of Norfolk Avenue. Do you know of other Bethesda businesses offering tax day promotions? How will you spend your tax refund? Tell us in the comments.
Sunday, April 14, 2013
Patch brings a unique perspective on everyday news written by users like you. Read what some of our Local Voices bloggers had to say this week.
African Leaders Avoid U.S. Blacks My response has always been quite simple—It’s your fault! Let me break it down based on the itinerary for the delegation that met with Obama two weeks ago. In most cases, the State Department takes the lead in setting up the program for foreign leaders, but they are free to add their own program in addition to State’s program if they so desire. While in Washington, each leader participated in numerous meetings and events to strengthen bilateral cooperation on a range of shared priorities. Hoyer: Make It In America With the start of the baseball season this month, many Americans are once again focusing on a cherished national tradition. But there is another great tradition that deserves renewed attention…
Tuesday, April 9, 2013
Plan aims to improve business competitiveness by reducing raises for county employees.
Montgomery County Councilman Philip M. Andrews on Tuesday introduced a plan to reduce the 2010 increase in Montgomery County’s energy tax by 10 percent. The county's energy tax was raised by 155 percent on homeowners and by nearly 60 percent on businesses and nonprofit organizations in 2010, according to a County Council news release. A 10 percent reduction would reduce county revenues by $11.4 million in fiscal 2014, which begins July 1. Andrews (D-Dist. 3) of Gaithersburg proposes paying for the energy tax reduction by slashing the pay increases for county employees over the next two years. Andrews, who is running for Montgomery County Executive in next year's election, criticized the agreement struck between the county employees unions …
Sunday, April 7, 2013
Maryland Comptroller Peter Franchot visited his office's Wheaton branch on Tuesday.
April 15 is fast approaching, and Maryland Comptroller Peter Franchot, whose office is responsible for collecting state taxes, is making the rounds. Tuesday morning Franchot stopped by his agency's only branch in Montgomery County, at 11510 Georgia Ave. (Suite 190) in Wheaton, to speak with the branch office's employees and the taxpayers there looking for help with their returns. Watch the video above to hear why Franchot is encouraging Marylanders to file their taxes electronically. If you need help with your Maryland tax return, employees at the Wheaton branch office will prepare it for you for free, as well as transmit it electronically.
Thursday, April 4, 2013
Maryland Comptroller Peter Franchot visited his office's Wheaton branch on Tuesday.
April 15 is fast approaching, and Maryland Comptroller Peter Franchot, whose office is responsible for collecting state taxes, is making the rounds. Tuesday morning Franchot stopped by his agency's only branch in Montgomery County, at 11510 Georgia Avenue (Suite 190) in Wheaton, to speak with the branch office's employees and the taxpayers there looking for help with their returns. Watch the video above to hear why Franchot is encouraging Marylanders to file their taxes electronically. If you need help with your Maryland tax return, employees at the Wheaton branch office will prepare it for you for free, as well as transmit it electronically.
Friday, February 1, 2013
The cupcake shop's Georgetown location owes about $189,000 in taxes to the District of Columbia.
Updated 3:10 p.m. Georgetown cupcake has paid its taxes, according to Washingtonian. “Georgetown Cupcake has paid its taxes to the DC Office of Tax and Revenue in full, and the Office of Tax and Revenue has acknowledged receipt of payment,” said co-owner Katherine Kallinis, in an email to Washingtonian. Kallinis called the issue a "misunderstanding." Original Post Georgetown Cupcake's Georgetown location at 1209 Potomac St. NW was issued a tax lien for some $189,282.71 in taxes and penalties owed from August, September and October, the Washington Business Journal reports. The DC Office of Tax and Revenue filed the lien Thursday. Sisters Katherine Kallinis Berman and Sophie Kallinis LaMontagne opened the cupcake shop in Georgetown in 2008. …
Thursday, January 3, 2013
Sunday's home playoff games in Landover and Baltimore will bring in $2.5 million each, state comptroller Peter Franchot told The Washington Post.
While Sunday's football schedule is shaping up to be a dream day for fans of the Washington Redskins and Baltimore Ravens, it's also a financial boon for the state. The Redskins and Ravens games — each hosting Sunday's NFL wild card round playoffs — are expected to net approximately $2.5 million in taxes for Maryland, state comptroller Peter Franchot told The Washington Post . Franchot said the increase in taxes is expected to come from "sales of high-priced playoff tickets, souvenirs, and concessions as well as taxes on bonuses for players and coaches," among other places, according to the report. “When both teams are in the playoffs, there’s a synergistic impact where folks just feel better in Maryland, and when folks feel better there’s…
Monday, April 16, 2012
April 17 is the last chance to file your 2011 state and federal taxes, unless you're going for an extension.
State and federal taxes must be postmarked by the U.S. Postal Service or filed online through Tuesday, April 17. "Late [federal] tax filers will be charged 0.5 percent of unpaid taxes per month, plus interest, which is currently 3 percent per year," Huffington Post reported. Penalities incurred by filing Maryland state tax returns after the deadline "depend on the amount of taxes that we believe you owe," the state comptroller's office stated on its website. "Maryland law requires us to charge interest at the annual rate of 13 percent and it will be calculated from the date the return was originally due. Penalty charges for late payments can be up to 25 percent of the amount of tax you owe," the comptroller's website continued. Chevy Chase…