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July 2011

IRS Grants Second Amnesty Period For Unreported Foreign Investments
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Jonathan E. Greenstein, Tax    July 16, 2011

If you have a foreign bank or investment account, that may be a ticking tax bomb waiting to explode. If the aggregate balance of all foreign accounts exceeds $10,000 at any time during the year, a Report of Foreign Bank and Financial Accounts (FBAR) must be filed. Also, any income from those accounts must be […]

Various Fees and Taxes Increase Effective July 1
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James D. Walsh, Tax    July 12, 2011

Assorted fees and taxes increased on July 1 here in Maryland, including: (1) Increase of vehicle registration fees (up $26.50 for most vehicles over the two-year registration period), (2) Doubling (to $40.00) of the land records surcharge assessed on deeds, (3) Increase to 9% (from 6%) for the sales tax on alcohol, (4) Increasing the […]

Howard County bans smoking in public parks
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Howard County Health Director Dr. Peter Beilenson announced today that Howard County will ban smoking in its parks effective tomorrow, July 13. The latest Howard County ban does not affect smoking in other public places nor on privately-owned yet publicly-accessible recreation areas (e.g., Columbia Association open spaces).