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      May 22, 2018

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Tax Relief in Maryland

Maryland MapWhen analyzing Marylandís rankings with respect to taxes, state residents tend to be near the top of the charts - both positive and negative. For example, Maryland has the fourth highest median household income in the nation: $65,262. Unsurprisingly, the state also has the 7th highest average federal income tax collection among all fifty states, with a typical amount of $12,882, more than $1,000 higher than the national average.

Although Marylandís top individual income tax rate is 5.75%, 24th lowest among all states levying an individual income tax, the actual amount collected in local and state income taxes ($1,823) puts Maryland in 2nd highest place.

With respect to property taxes, Maryland collects $1,449 per capita, 17th highest in the nation.

Residents of Maryland have experienced the decline in median household incomes that has affected all of the United States. On average, household incomes have dropped by approximately 11.5% in recent years. This decline in income, coupled with other financial challenges due to job loss, medical bills, or other unexpected debts have resulted in a significant portion of state residents becoming delinquent in meeting their tax obligations as they do not have savings set aside for the purpose of paying their tax bills.

However, many individuals in Maryland are turning to tax relief companies to help address their struggles with tax debt. An experienced tax relief company can help residents avoid or eliminate the stress of wage garnishment, seizure of assets, and knowing that they are under scrutiny by the IRS or state tax collection agencies. There are a number of strategies available for tax relief, such as reviewing and amending tax returns, setting up payment plans, and even negotiating penalty abatement. Tax relief experts are the best source of information and help in employing such approaches and can help Maryland residents solve their serious tax debt problems.

 

Md. governor candidate: Legalize, tax pot to pay for pre-K education

SILVER SPRING, Md. (AP) - A Democratic candidate for governor of Maryland wants to create universal pre-kindergarten and pay for it with tax revenue from legalizing marijuana. Ben Jealous released the plan Friday. Jealous is running for the Democratic ...

Published:  Fri, 18 May 2018 06:12:00 GMT



Maryland seeks bids for $100 million project to replace tax processing system

The Maryland Office of the Comptroller is seeking proposals for what is expected to be a $100 million job to replace the office's 25-year-old tax processing system. The office issued a request for proposals (RFP) on April 16, with bids due by June 1.

Published:  Wed, 09 May 2018 11:43:00 GMT



Hogan Signs Measures to Cut Taxes, Help Environment

Mike Miller. "This morning we will be signing important initiatives to again cut taxes for hardworking Maryland families, small businesses and retirees, including our veterans," Hogan said. Here's a look at some of the legislation Hogan signed into law ...

Published:  Tue, 15 May 2018 11:08:00 GMT



Surprise: Higher taxes in Maryland chasing out the wealthy

In light of President Obama's exhortation to hike taxes on those making more than $250,000 a year earlier today, here's a well-timed piece of evidence demonstrating what happens when you decide you'd rather engage in populist persecution and punish ...

Published:  Fri, 11 May 2018 23:01:00 GMT



Baltimore's top cop faces charges of failure to file taxes

BALTIMORE - (AP) - Baltimore's police commissioner has been charged with three misdemeanor counts of failure to file taxes. The U.S. Attorney's office alleged Thursday that Commissioner Darryl DeSousa "willfully failed to file a federal return for tax ...

Published:  Thu, 10 May 2018 13:08:00 GMT



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