ANNAPOLIS, Md. (WJZ) — Maryland Comptroller Peter Franchot is extending tax filing and payment deadlines to April 15, 2021, as businesses and individuals continue to struggle financially during the pandemic.
The extension is for certain business taxes and quarterly estimated income tax returns and payments that would be due in January, February and March. It also will be provided for withholding and estimated income tax filings and payments.READ MORE: Firefighters Battle Two-Alarm Fire Amid Thunderstorm In Baltimore's Riverside Neighborhood
It follows a similar extension granted in 2020 during the beginning of the pandemic.
Maryland’s comptroller calls for more relief for struggling families during the pandemic; he will push deadlines for tax payments by 90 days—zero interest, zero penalties @wjz pic.twitter.com/TGuFHSr62w
— Mike Hellgren (@HellgrenWJZ) January 6, 2021
The comptroller’s office said no interest or penalties will be assessed and you do not need to file a request for the extension.READ MORE: Fourth Of July Fireworks Return To Baltimore's Inner Harbor
“My directive for a tax forbearance that is interest and penalty free is a direct and immediate economic stimulus for Maryland businesses and workers — a decision that we estimate keeps more than $1 billion in consumers’ pockets and helps businesses keep their lights on,” Comptroller Franchot said.
Businesses and self-employed people or independent contractors with estimated income tax returns due January 15, 2021 will also be granted the extension.
“As businesses await approval of applications for grants and loans, receipt of funds and additional federal government action, these tax extensions immediately alleviate financial pressures during challenging times,” Comptroller Franchot said. “Just like last year when we gave businesses a breather, after 90 days, taxpayers will remit what is due, ensuring this action is budget neutral for the State of Maryland.”MORE NEWS: Maryland Comptroller Franchot Tests Positive For COVID-19