Earlier this month, our blog spent some time discussing how those individuals who find themselves in the unenviable position of not having made payment arrangements with the Comptroller of Maryland's office or being unable to comply with these arrangements should know...
Year: 2017
Understanding the Foreign Account Tax Compliance Act (FATCA)
As someone who has foreign accounts in counties other than the United States, it's important that you understand the Foreign Account Tax Compliance Act (FATCA). This is an important act that was created to help eliminate tax evasion by those holding accounts outside...
Why the Comptroller’s Office calls a new tax law a ‘game-changer’
In our post last week, we discussed how the principal duty of the Comptroller of Maryland's office is the collection of taxes and how it has a host of tools at its disposal to assist with the fulfillment of this duty. Indeed, the agency collects an astounding $16...
A closer look at the enforcement options Maryland uses to collect tax debt
Given that we are nearly a month removed from Tax Day 2017, most individuals are free to redirect their attention to more pressing -- and likely more exciting -- matters.However, there are some for whom this is not an option owing to unresolved personal income tax...
Bill grants major tax breaks to Maryland manufacturers that create new jobs
One tradition of Maryland politics with which people might be unfamiliar is that the governor holds multiple bill-signing ceremonies following the adjournment of General Assembly's 90-day session, including one held the following morning after the final gavel...
Sage advice for those who haven’t filed their taxes yet
The end of tax season came quickly and abruptly last week. Indeed, the days leading up to the federal income tax filing deadline may have been very stressful for procrastinators. Those who completed and filed their returns should breathe easy. But for those who did...
When audited, follow simple steps to get through it
Audits are not necessarily the end of the world for the person being audited, though you would be justified in feeling so. Audits can be incredibly punishing, and they can also be a massive time-sink for the individual under audit. So how do you survive an audit and...
6 tax mistakes often made by business owners
Your company had a terrific year, and you're thrilled about your projections moving forward. Of course, along with your increased success and increased income, you must report and file your taxes. Even simple mistakes can lead to audits and penalties, such as monetary...
You are entitled to an appeal of your tax situation
People and businesses all across the state of Maryland often have to deal with the Internal Revenue Service, and they may have even suffered action at the hands of the IRS. If you are behind on your taxes or if you owe the IRS tax debt, then it is highly unlikely that...
Tax liens can severely punish businesses
While the following story doesn't come from here in Maryland, the lessons it teaches about businesses and tax liens are applicable no matter where it originates. A start-up company in San Antonio, called Vysk Communications, has been hit with a tax lien by the...