ANNAPOLIS (WJZ) — Comptroller Peter Franchot announced Monday the first phase of the agency’s new tax processing system, to streamline how taxpayers do business with them.
The $160 million system called “Compass” went live Monday and will upgrade focuses on alcohol tax collection and license renewals.READ MORE: 29-Year-Old Man Shot & Killed Overnight
The comptroller said in a release the process will be more automated and many of the forms used will be condensed to save taxpayers time and allow for quicker customer service.
“During my tenure as Comptroller, our agency has consistently received national recognition and high praise from the taxpayers we serve, despite using an outdated tax processing system,” said Comptroller Franchot. “Today’s launch of Compass brings us into a new era that will make it easier for taxpayers to view and manage their accounts online, while enabling us to process tax returns more quickly and protect against fraud more vigorously.”READ MORE: M&T Bank Stadium To Open As COVID-19 Mass Vaccination Site Today
The system will continue to be shifted in over the next several years. Corporate taxes will launch in the first quarter of 2021, followed by business taxes and individual income taxes in 2022- when most taxpayers will be impacted.
The system cites “best-practice security standards and maximized audit, collection, reporting and estimating functionality,”MORE NEWS: 'Game-Changing' Johnson & Johnson Single-Dose Covid-19 Vaccine Meets Requirements For Emergency Use Authorization, FDA Says
The extended tax filing date for Maryland due to the coronavirus pandemic is July 15.