Franchot Blog

The Baltimore Sun reports today that Maryland's tax amnesty ends in two weeks. The Sun:

Maryland's tax amnesty program, launched in September, expires Oct. 30.

Under the amnesty, individuals and small businesses must pay back taxes, but they will only owe half the interest usually assessed and won't face civil penalties or criminal prosecution. And for the first time, delinquent taxpayers have the option of paying up under a plan that stretches payments out until the end of next year.

The state estimates that about 177,000 individuals and 18,000 businesses are behind on their taxes. As of last week, 1,784 of them had applied for amnesty, and the state had collected $3.4 million, says Christine Feldmann, a spokeswoman for Maryland's comptroller. The program is projected to bring in $5 million to $10 million.

Feldmann says the amnesty is well on target to exceed the lower estimate.

"The last two weeks tend to bring in the most money, and half the people who sought amnesty signed up for payment plans," she says. Much of the money from payment plans won't come in until next year, she says.

You shouldn't expect this opportunity to come back, so, make sure to square up now. Visit MarylandTaxes.com and take advantage of this rare opportunity.

On Wednesday, Comptroller Peter Franchot asked for Health Secretary John Chalmers to consider other budget cuts that might save the Upper Shore Community Mental Health Center in Chestertown from closure. The Sun reports:

The Board of Public Works, a three-member body including O'Malley, Comptroller Peter Franchot and Treasurer Nancy K. Kopp, unanimously approved the closure of the Upper Shore Community Mental Health Center in Chestertown in August as part of several hundred million dollars in state budget cuts.

But at a board meeting Wednesday, Franchot called on Health Secretary John M. Colmers to come up with alternative budget cuts that might be considered instead of closing the hospital, which cares for nearly 200 patients a year in an area with few options for care.

"Maybe this is something we should take a step back from and see whether there's another budget option," Franchot said. "I'm not sure we did the right thing."

Franchot takes responsibility for his vote, but, thinks the Board should reconsider it. Franchot said:

I just want to have you take a clear-eyed look at it. I voted for the closure. I don't have clean hands here, but I'd like you to take another look at it, because I'm not sure we did the right thing.

There are still tickets available to this Saturday's Franchot Family Fun Day BBQ at Smokey Glen in Gaithersberg. It will be held, rain or shine, from 1-4 p.m. in the Knoll Picnic Area.

We need to get a sense of how many people are coming so we can order enough food. If you could get your tickets today, we'd really appreciate it. We’re asking for $30 per person or $50 for the whole family. You can order your tickets here.

There will be good food, great friends, face painting, a moon bounce, music, balloons and more. I do hope you can join us on Saturday afternoon at Smokey Glen Farm, which is located at 16407 Riffleford Road in Gaithersburg.

This Saturday, October 10th is the first Franchot Family Fun Day at Smokey Glen in Gaithersburg. The event kicks off at 1 pm and concludes at 4 pm. There will be good food, good friends, drinks, a moon bounce, face painting, balloons, music and much more!

I hope you can join us. There's still time to register, but spots are filling quickly. Don't wait - get your tickets now before they run out!

GET YOUR TICKETS TO THE FRANCHOT FAMILY FUN DAY AT SMOKEY GLEN!

For those of you that aren't in the area, we're holding a second Franchot Family Fun Day next weekend at Oregon Ridge in Cockeysville. That event is on Sunday, October 18th beginning at 1 pm and lasting until 4 pm. Tickets are still available.

GET YOUR TICKETS TO THE FRANCHOT FAMILY FUN DAY AT OREGON RIDGE!

Thanks so much for your time - I hope to see you this weekend or next!

Today, Baltimore Sun Columnist Jay Hancock praised an idea Comptroller Peter Franchot is pushing: to provide students with financial literacy training before they leave high school. Hancock:

Maryland has another idea. Make dumb consumers smart. Don't let kids out of school without a basic understanding of interest rates, bank fees and scams that will persist no matter how baby-proof Congress tries to make the system.

State officials are about to reveal proposals for personal-finance instruction that could be in the classroom by next fall. While the material will probably be offered as optional, the General Assembly should go a step further and require it for all public high schools.

"I'm actually very encouraged," says Allen Cox, managing director of the Maryland Coalition for Financial Literacy, based at Towson University. Now that we know what happens when 5 million Americans buy houses they can't afford, "there is so much more interest in it now than there was a year ago," he said...

Whatever the content, the key is making city and county systems teach the stuff - in a semester-long course to every high school student.

"There's always bureaucratic push-back because it's not their idea, not their initiative," says Maryland Comptroller Peter Franchot, who is a strong advocate of financial literacy. "If we don't order it, it probably won't get done."

Franchot wants the legislature to require personal-finance courses for high school but let each locality customize the instruction...

Mandatory personal-finance classes can help raise a new generation of rational Marylanders. That'll be good for them and, if it helps avoid another $2 trillion financial meltdown, everybody else, too.

Financial literacy training will provide our students with practical lessons they can use for the rest of their lives.

We did it! With your help, we blew past our $15,000 goal and raised a grand total of $18,040.

Thank you. We couldn't have done it without you.

When we launched the crab, my staff was skeptical. They said it couldn't be done. But, we proved them wrong. People all across the state want to keep fiscally responsible, independent leadership working in Annapolis.

I'm humbled and honored by your support and commitment.

Remember, next weekend is the first of the Franchot Family Fun Days. Tickets are still available. I hope you'll join me and celebrate our accomplishments.

GET YOUR TICKET FOR FRANCHOT FAMILY FUN DAY IN GAITHERSBURG!

GET YOUR TICKET FOR FRANCHOT FAMILY FUN DAY IN COCKEYSVILLE!

Thank you once again for all your support. I hope to see you next or the following weekend!

Comptroller Peter Franchot extended the October 15th tax deadline for businesses in the Dundalk area impacted by the massive water main break last month to November 15th. Comptroller Franchot:

I empathize with anyone impacted by this disaster. This extension will assure that any business in the area and business owners are not penalized by an incident that was beyond their control.

No late penalties or interest will be applied to the bills so long as they are paid by November 15th.

The state tax amnesty ends on October 30th. Delinquent taxpayers have one month left to pay up. Comptroller Franchot issued the reminder today, saying:

I remind delinquent taxpayers that they only have one month left to take advantage of this rare opportunity and clean the slate with the state. Maryland taxpayers should have no expectation that amnesty will be offered again. Delinquent taxpayers should come forward and take advantage of this limited opportunity

The following taxes are eligible for amnesty:

• Personal Income Tax
• Employer Withholding Tax
• Corporate Income Tax
• Sales and Use Tax
• Admissions and Amusement Tax

Under this program, approved participants will have half the unpaid interest waived on their outstanding liability along with all unpaid civil penalties. Taxpayers can either pay the entire amount in full immediately or set up a payment plan that must be settled by December 31, 2010. Full payments can be made by Amnesty BillPay, credit card, check or money order. Taxpayers taking advantage of the payment plan option must include a 10 percent down payment and expect future payments to be direct debited from their bank account.

Taxpayers who participated in the last tax amnesty are not eligible for this year’s program for the same tax type. Businesses with more than 500 employees in the United States or that are members of a corporate group with more than 500 employees in the United States are also not eligible. Additionally, businesses eligible for the July 1, 2004 through November 1, 2004 settlement period as provided in Chapter 557 of the Acts 2004, can not be granted amnesty.

To obtain a tax amnesty application and learn more about your eligibility, visit www.marylandtaxes.com or call 410-260-7980 from central Maryland, or 1-800-MD-TAXES from elsewhere.

This is it. Our fundraising drive ends tonight at 11:59 pm. We're almost to our $15,000 goal. I need you to put us over the top.

There's no more time to delay. This is your last chance to contribute before tonight's critical deadline. I need your help now to ensure that we meet our goal. And, this is also your last chance to contribute to win a free Franchot bumper sticker. Please, put us over the top today and see how much we can exceed the goal!

HOURS LEFT! CONTRIBUTE $10, $25, $50 OR MORE BY 11:59 PM TONIGHT!

I love Maryland and my record speaks for itself. I've cracked down on tax cheats, made the Comptroller's office more efficient and embraced 21st century technology. In these times of fiscal crisis, I remain a strong and effective advocate for fiscal responsibility.

If you believe that we need more independent leadership in Annapolis, I hope you'll make an investment over the next few hours. There's no time for delay, please, contribute today and, together, we can put Maryland back on the track to fiscal responsibility.

HOURS LEFT! CONTRIBUTE $10, $25, $50 OR MORE BY 11:59 PM TONIGHT!

Thanks so much for your time and continued support.

Peter Franchot was in Talbot County this week and The Star-Democrat recorded this video:

Franchot was talking about the need for financial literacy in Maryland. The Star-Democrat reports:

Franchot's office is working with the Task Force for Improving Financial Literacy, formed during the last Maryland legislative session, to come up with a plan to require financial literacy courses in high schools across Maryland. He visited Nick Warner's personal finance class on Monday at St. Michaels Middle High School to learn more about Talbot County's requirement and to ask for ideas from students and school officials. Dels. Jeannie Haddaway-Riccio, R-37B-Talbot, and Adelaide Eckardt, R-37B-Dorchester, and Sen. Richard Colburn, R-37-Mid-Shore, visited as well.

"We want to export what you're doing all over the state," Franchot told students. "Your representatives will hopefully help get this implemented."

The course in Talbot County, and similar courses in Allegany and Carroll counties, teach about checkbook balancing, mortgages, loans, interest and credit cards.

"There is a lot of financial anxiety out there and this is a way to prepare," he said.

Peter Franchot believes that the state and all Marylanders need to be more fiscally responsible. The Comptroller's policy is a step in the right direction and is attracting bipartisan support.