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Income Tax

Highlights

A collection of news and information related to Income Tax published by this site and its partners.

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    May 23, 2012 |Story| Baltimore Sun

  1. Maryland offers tax relief on debt forgiveness

    For a long time, you had to pay income tax on debt that your mortgage lender forgave. During the height of the housing crisis, the federal government offered a reprieve — it stopped collecting income tax on up to $2 million of forgiven mortgage debt...

    Tags: Maryland General Assembly, Taxation, State Income Tax, Federal Income Tax, Mortgages

    2. May 22, 2012 |Column| Baltimore Sun

  2. Defining down 'rich' won't save Maryland's budget

    Plastic surgery and Botox made 40 the new 30. In this month's special session of the General Assembly, Maryland's Democratic legislators made $100,000 the new $1 million. Unlike doctors and pharmaceuticals, however, members of the state's majority party...

    Tags: Montgomery County (Maryland), Barack Obama, Botox (drug), Democratic Party, State Income Tax

    3. May 22, 2012 |Story| Baltimore Sun

  3. Lies, damn lies and phony tax statistics

    Thomas M. Neale's letter to the editor ("The wealthy pay more than their fair share," May 14) uses the usual Republican tactic of irrelevant statistics to confuse the issue of tax fairness. It does not matter that the top 1 percent of taxpayers pay 38...

    Tags: Taxation, State Income Tax, Unemployment, Federal Income Tax, Personal Income

    4. May 17, 2012 |Story| Baltimore Sun

  4. It's time for tax reform that benefits the middle class

    Thomas Neale's recent letter to the editor employs uses usual Republican tactic of throwing out irrelevant statistics to confuse the issue of tax fairness ("The wealthy pay more than their fair share," May 14). It doesn't matter that the top 1 percent...

    Tags: Taxation, State Income Tax, Federal Income Tax, Personal Income

    5. May 16, 2012 |Story| Baltimore Sun

  5. O'Malley builds on tax-raising legacy

    The General Assembly's speedy embrace of Gov. Martin O'Malley's income tax increases this week cleaned up a political mess in Annapolis, but the rate hikes could come back to haunt the Democrat if he seeks national office when his time in the governor's mansion is up.
    The General Assembly's speedy embrace of Gov. Martin O'Malley's income tax increases this week cleaned up a political mess in Annapolis, but the rate hikes could come back to haunt the Democrat if he seeks national office when his time in the governor's...

    Tags: Barack Obama, Chris Christie, Executive Branch, Democratic Party, Budgets and Budgeting

    6. May 14, 2012 |Story| Baltimore Sun

  6. Democratic tax plan faces challenge from within

    A carefully choreographed strategy to raise state income taxes to stave off so-called doomsday budget cuts faces a challenge in the General Assembly after several Democrats defied party leaders with a proposal to raise the sales tax instead.
    A carefully choreographed strategy to raise state income taxes to stave off so-called doomsday budget cuts faces a challenge in the General Assembly after several Democrats defied party leaders with a proposal to raise the sales tax instead. The...

    Tags: Montgomery County (Maryland), Executive Branch, Democratic Party, Budgets and Budgeting, Credit and Debt

    7. May 13, 2012 |Story| Baltimore Sun

  7. Ire over income tax plan to get louder Monday

    A Maryland family making more than $175,000 will pay at least $254 more in income taxes this year under a revenue-raising plan the Maryland General Assembly is expected to take up when it convenes for special session on Monday.
    A Maryland family making more than $175,000 will pay at least $254 more in income taxes this year under a revenue-raising plan the Maryland General Assembly is expected to take up when it convenes for special session on Monday. The same family of joint...

    Tags: Investments, Realty, Executive Branch, State Income Tax, Thomas V. Mike Miller

    8. Mar 8, 2012 |Story| Baltimore Sun

  8. Senate panel approves income tax increase

    Determined to avoid deep cuts to state spending, a Senate committee voted Thursday to approve an increase of roughly one-quarter of a percent in Maryland's income tax rate and to shift part of the state's teacher pension costs to the counties, though at a...

    Tags: Teachers, Executive Branch, Teaching and Learning, Budgets and Budgeting, George C. Edwards

    9. Mar 13, 2012 |Story| Baltimore Sun

  9. O'Malley to appeal for gas tax

    Gov. Martin O'Malley is expected to make a personal, perhaps quixotic pitch Wednesday for what could be the least popular proposal in Annapolis this year: raising the tax on gasoline.
    Gov. Martin O'Malley is expected to make a personal, perhaps quixotic pitch Wednesday for what could be the least popular proposal in Annapolis this year: raising the tax on gasoline. The governor is scheduled to testify before House and Senate...

    Tags: Clarksville, Automotive Equipment, Executive Branch, Budgets and Budgeting, AAA

    10. Mar 18, 2012 |Story| Baltimore Sun

  10. Tax policy on the fly

    Disinclined as we may be to pity the plight of those making more than $500,000 a year, the state Senate, in its attempt to raise more revenue from such top earners, has gone too far. The Senate has adopted a plan that appears to be unique among the 50 states and would violate a cardinal rule of income tax policy, which is that a dollar earned should not cost more than a dollar in taxes. When the House of Delegates takes up the budget, it will have some work to do to clean this mess up.
    Disinclined as we may be to pity the plight of those making more than $500,000 a year, the state Senate, in its attempt to raise more revenue from such top earners, has gone too far. The Senate has adopted a plan that appears to be unique among the 50...

    Tags: Real Estate, Taxation, State Income Tax, Federal Income Tax, Personal Income

    11. Mar 14, 2012 |Story| Baltimore Sun

  11. Senate plows through budget, turning back GOP

    The Maryland Senate spent Wednesday afternoon plowing through the state budget bill and a companion measure shifting part of the cost of teacher pensions from the state to the counties, turning back Republican attempts to amend the legislation. Late in...

    Tags: Interior Policy, Democratic Party, Budgets and Budgeting, Parties and Movements, Thomas V. Mike Miller

    12. Mar 19, 2012 |Story| Baltimore Sun

  12. House plan would cut Senate income tax hike in half

    A budget plan moving through the House of Delegates calls for an income tax increase of less than half the size of the hike passed by the Senate last week and would spare taxpayers who make less than $100,000. A House committee approved amendments...

    Tags: Executive Branch, Taxation, State Income Tax, Elections, Government

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