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Some taxpayers celebrating; CareFirst subscribers blue
For some 55,000 Maryland taxpayers, it was a very good week. For some 1.1 million CareFirst health insurance subscribers, definitely not. The U.S. Supreme Court Monday struck down Maryland’s law barring taxpayers from deducting from their local taxes any taxes they paid to other states on money earned there. It was a closely divided court, […]
Obama expands student-loan relief to pre-2007 borrowers
Dubbing it a "no-brainer," President Barack Obama expanded a program Monday capping monthly student loan payments for 5 million more borrowers at an unknown cost to taxpayers.
Shutdown delays tax filing season by 10 days
WASHINGTON — Taxpayers eager to get refunds will have to wait an extra 10 days to file their federal tax returns. The Internal Revenue Service said Wednesday the government shutdown has forced it to delay tax filing season until Jan. 31. It had been slated to start Jan. 21. The IRS says the 16-day shutdown […]
IG: Undervalued coal leases cost U.S. $62 million
BILLINGS, Mont. — A government report says leases on publicly owned coal are undervalued and have cost the U.S. $62 million in potential lost revenues. Tuesday’s report from the Department of Interior Inspector General recommends that the government take quick action to strengthen its coal sales program to prevent further losses. The report says undervaluing […]
Hilton deal costing taxpayers $2 million in 2013
The city’s top fiscal manager said Thursday that debt restructuring could be part of a new economic strategy for the city-owned Hilton Baltimore as hotel revenues continue to underperform.
IRS extends deadline for storm-hit taxpayers
WASHINGTON — The IRS is giving taxpayers and tax preparers hit by Hurricane Sandy an extra week to file returns and make payments. The tax agency says the relief will apply mainly to businesses in the storm-impacted Northeast and Mid-Atlantic states whose payroll and excise tax returns and payments are normally due on Wednesday. The […]
Gov’t bars Fannie-Freddie from reducing principal
WASHINGTON — A federal regulator is standing by its decision to bar Fannie Mae and Freddie Mac from reducing principal for borrowers at risk of foreclosure, resisting pressure from the Obama administration. The Federal Housing Finance Agency announced the decision Tuesday after months of considering the option. The agency’s acting director, Edward DeMarco, has long […]
Hilton’s $11.5M loss mostly from depreciation
While the city-owned Hilton Baltimore Convention Center Hotel lost $11.5 million last year, development officials stressed that the loss is not coming down to taxpayers. “The hotel to date… has not lost a single penny for the taxpayers of Baltimore City,” said M.J. “Jay” Brodie, president of the Baltimore Development Corp. The 757-room hotel, which […]
Freddie Mac naming ex-E*Trade head as new CEO
WASHINGTON — Mortgage giant Freddie Mac is naming the former head of E*Trade Financial Corp. as its new CEO. Donald Layton, 62, is expected to be named next Freddie’s chief executive as early as this week, a person with direct knowledge of the matter said Wednesday. The person spoke on condition of anonymity because that […]
House of Delegates passes offshore wind bill
ANNAPOLIS — The Maryland House of Delegates voted 88-47 on Friday for a scaled-back measure to help develop offshore wind off the coast of Ocean City in as soon as five years. Democratic Gov. Martin O’Malley is backing the legislation again this year after it failed last year over concerns about its costs. Supporters, who […]
Army drops plan for Fort Detrick animal biodefense lab
FREDERICK — The Army says it is dropping plans for a high-security animal laboratory at Fort Detrick in Frederick that would have been used for public and private research on some of the world’s deadliest pathogens. Officials at Fort Detrick said Wednesday that the demand for such a facility is less than anticipated. They say […]
Cap plan alarms Maryland real estate agents
ANNAPOLIS — Maryland real estate agents expressed alarm Wednesday at Gov. Martin O’Malley’s proposal to cap state income tax deductions for people who make more than $100,000, a change that would have a big impact on mortgage interest deductions. Patricia Terrill, president of the Maryland Association of Realtors, said the proposal was just about the […]
