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
Leggs are pulled from under Brett and Cindy in a 1700% over valuation of a charitable easement donation.
December 30th, 2015Application for Tax Amnesty Released by Maryland Comptroller’s Office
August 25th, 2015Maryland 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
Corporations which do not follow state law corporate formalities may find themselves in deep tax water.
May 19th, 2015Holdings: California corporations, which corporate powers, rights, and privileges were suspended, lacked ability to petition T.C. for a redetermination of taxes, penalties, and interest. Lesson Learned: Corporations which do not follow state law corporate formalities may find themselves in… Read More
Multistate pass-through business owner? Maryland may owe you a tax refund!
March 25th, 2015Are 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
Thomas & Libowitz, P.A. Selected For “Top Law Firms In The Baltimore Area”
March 25th, 2015Baltimore, 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
All About Us: Thomas & Libowitz Legal Representation
July 17th, 2014For nearly 40 years, Thomas & Libowitz has provided both individuals and businesses in the Baltimore area with the quality legal representation they need. Our experienced attorneys, headed by partners Steve Thomas and Michael Libowitz, are ready and able to… Read More
O’Malley Signs Bill to Increase Estate Tax Exemption
June 23rd, 2014On May 15, Governor O’Malley signed a bill into law that incrementally increases Maryland’s estate tax exemption amount over the next five years. By 2019, the bill’s scheduled increases will raise the amount exempt from Maryland’s estate tax to equal… Read More