Legislative / Regulatory

Comptroller Franchot on things that go together

Each December, Maryland's comptroller and the MACPA break bread and talk about how they can work together to improve the lives of Maryland's taxpayers and preparers alike.

This year, MACPA Finance Director Skip Falatko was on hand to witness the goings-on. He filed the following report. Skip?



Collaboration, financial literacy, and fiscal responsibility were some of the themes emphasized by Maryland Comptroller Peter Franchot at the MACPA’s annual Comptroller’s Luncheon.

The event gives the tax preparer community a chance to get to know the professionals who manage those agencies. Attendees included MACPA members, tax attorneys, and staff from the Maryland Comptroller’s Office, State Department of Assessments and Taxation, and Division of Unemployment Insurance.

Comptroller Franchot addressed the group and thanked CPAs for their past efforts working with the Comptroller’s Office on combined reporting, the proposed computer tax, and e-filing.

Franchot also stressed the need for financial literacy for Maryland students by outlining an initiative to require Maryland high school graduation requirements to include a course in financial literacy. Franchot is seeking 10,000 signatures on a petition to bring to the Maryland legislature on the issue.

Franchot also promoted the concept of fiscal responsibility in state government by promoting a two-year “time-out” on any tax or fee increases in order to provide some “tax certainty” to citizens and to give them some time to “catch their breath” so the fragile recovery can continue.

The comptroller noted CPAs are viewed as objective, trusted advisors and encouraged us to talk to our legislators about these issues. A great way to do that is to attend CPA Day in Annapolis on Jan. 18. The event is free, includes two hours of CPE, and is an easy way to get to know your legislators. You can register here.

Like shoes and socks, salt and pepper, and bricks and mortar, financial literacy and fiscal responsibility go together, hand-in-glove. You can’t have one without the other. Let’s work together to help educate our legislators on the issues important to the CPA profession on Jan. 18.


Bill Sheridan