This issue of the Tax Update Newsletter provides a summary of key changes to the tax code for 2008 and offers ideas to help you reduce your taxes.
In addition to the preprogrammed changes discussed and charted to the right, three federal tax laws passed in 2006 could result in substantially more tax savings when your 2007 tax return is filed. Here is a summary of some important changes for 2007 that apply to many clients.
Local Maryland Tax News HeadlinesMaryland Comptroller to Reopen Most Branch Offices June 1 Bay Net Md. Comptroller accepting paper tax returns again, most branches open by appointment wmar2news.com Correction: Fitch Rates Prince George's County, MD's GOs 'AAA'; Outlook Stable Fitch Ratings New Revenue Estimates: Smaller Loss This Year, But Sustained Economic Downturn Josh Kurtz Paper Personal MD Income Tax Return Processing Resumes Monday Annapolis, MD Patch