ANNAPOLIS (WJZ) — The new due date for filing and paying taxes in Maryland is approaching, and the Maryland comptroller wants to remind taxpayers who took advantage of the filing extension to be prepared.
The new filing due date is July 15.READ MORE: Grand Jury Indicts 3 Suspects In Murder Of 8-Year-Old PJ Evans
Earlier this year, Comptroller Peter Franchot extended the tax deadlines to mid-July to ease the burden on families and small businesses affected by COVID-19.
“The coronavirus pandemic has been both a public health crisis and an economic catastrophe for many families and small businesses,” Comptroller Franchot said. “The 90-day extension hopefully provided some financial relief to help Marylanders get through this enormously challenging period. As always, my office will continue to work with taxpayers who are facing difficult financial circumstances.”
Individual, corporate, pass-through entity, estate and fiduciary taxpayers who file and pay by the July 15 due date will receive a waiver of interest and penalties.
Taxpayers can request an extension to file until October 15, but they must pay what is owed or estimated to owe on July 15.
Payments received after July 15, either partial or in full, will be subject to penalties and interest on the amount due, officials said.READ MORE: Maryland Man Accused Of Obtaining $700K PPP Loan To Trade Stocks
So far in 2020, 2.5 million electronic and paper returns have been filed with $1.93 billion in refunds issued. An average refund is $1,000.
Typically, 3.2 million returns are filed each year.
The July 15 extension also applies to some business returns that had due dates during March, April, May and June 2020.
Officials remind businesses filing sales and use tax, withholding tax and admissions & amusement tax, as well as alcohol, tobacco and motor fuel excise taxes, tire recycling fees and bay restoration fees. Those filings and payments are also due on July 15.
Individual and corporate taxpayers who need assistance are encouraged to make an appointment at one of the state’s nine re-opened branch offices.MORE NEWS: COVID-19 In Maryland: State Has Administered Over 50K Booster Shots