Each year as the tax season arrives, scammers flood telephones and e-mail accounts with schemes trying to trick us so they may steal our identification, our passwords and otherwise attempt to file returns under our social security number for bogus… Read More

With the proliferation of trusts in estate planning and real estate over the past two decades, lawyers are increasingly presented with client issues requiring litigation involving a trust. Litigation may include a trust in a number of circumstances. For example,… Read More

Recently, the Tax Court opined in the case of Legg v. Comm’r, 145 T.C. 13 (Dec. 7, 2015) that a 40% accuracy-related penalty for gross valuation misstatement under Section 6662(h) was appropriately applied in the matter of a charitable conservation… Read More

Maryland Form AM-15, Application for Tax Amnesty has been released by the Comptroller’s Office and is available at either (http://taxes.marylandtaxes.com/Tax_Compliance_and_Enforcement/Tax_Compliance_Information/Tax_Amnesty/ or on the 2015 Tax Amnesty page at the Maryland Comptroller’s website (www.MarylandTaxes.com).  The 2015 Tax Amnesty Brochure, which includes frequently… Read More

Are you a shareholder in an S corporation, a partner in a partnership or a member in a limited liability company which is Maryland-based, but conducts business in multiple states? If so, you pay taxes to the other states in… Read More

Baltimore, MD March 19, 2015—Thomas & Libowitz, P.A. is proud to announce a special recognition appearing in the January, 2015 issue of Baltimore Business Journal in which it was selected as a: “Top Law Firm In The Baltimore Area” Steven… Read More

The President’s budget proposals include some pretty scary ideas that readers should keep in mind.  For a link to those proposals please visit:  http://www.treasury.gov/resource-center/tax-policy/Documents/General-Explanations-FY2016.pdf  (Commonly referred to as the “Green Book”).  The Green Book is 300 pages long and there… Read More

This time each year the Internal Revenue Service (“IRS”) releases its list of the Dirty Dozen tax scams. This coincides with the tax preparation season as filers are tempted to skirt the tax laws. This should serve as a general… Read More