Maryland congressional leaders ask IRS to waive tax penalties for college trust account holders

A handful of members within the Maryland congressional delegation are asking the Internal Revenue Service to waive rules that would financially burden families who paid into the college trust program Maryland 529. In August, State Treasurer Dereck Davis announced that his office would allow Maryland 529 account holders to electronically view their account balances and accrued interest earnings, modernizing a troubled agency that had almost entirely relied on paper documents since its 1997 inception.