KabirCares.org

County Cancels Emergency Session on Tax Prepayment

The Prince George’s County Council has canceled an emergency session scheduled for today, Thursday, December 28. In response to new federal tax laws passed by Congress and signed by the President last week, the County was considering to provide potential options for the prepayment of 2018 County real property taxes.

According to news reports, homeowners were scrambling to prepay their 2018 property taxes in advance of the new federal cap on real estate deductions. The federal tax legislation that takes effect Jan. 1 will cap the state and local deductions on federal tax returns at $10,000. Residents who pay next year’s taxes before this year ends were hoping their efforts will allow them to take advantage of the deductions one last time.

The Council planned to break recess to consider an emergency measure that would enable County Government to receive prepayments. They were looking to open County tax offices over the weekend to accommodate residents who wished to prepay. However, late yesterday, the Internal Revenue Service issued an Advisory, which precluded the tax-saving action we would have taken to benefit County taxpayers.

Last night, the County Councilwoman Glaros made the following statement:

“The Council will not move forward with the planned legislation or tomorrow’s meeting. We would not want to add any more confusion to a tax plan that is already causing immense anxiety among our residents.

The Prince George’s County Council shares the frustration and uncertainty of many of our residents about the potential impacts of the Federal tax plan in the County, the state of Maryland and our Country.”

Related Posts Plugin for WordPress, Blogger...

RSS feed for comments on this post. TrackBack URI

Leave a Reply