Md. Comptroller Peter Franchot says it gives residents some time to prepare their returns.
Annapolis, Md (KM) April 15th is when some taxpayers rush around to get their tax returns in to the state Comptroller’s Office before midnight. But Comptroller Peter Franchot reminds citizens that the tax deadline has been extended until July 15th due to the disruptions caused by the coronavirus.
Franchot says most of the people who file their tax returns at the last minute usually owe the state money. “They don’t need to file them, and they don’t need to send us money. There won’t be any interest or penalties attached to that. They’re simply given a zero-percent loan for 90-days for those who owe us money,” he says.
The Comptroller says these residents can use that money they would have been paying to the state on April 15th to pay for some living expenses, such as the mortgage or car payments.
Usually, during tax season, the Comptroller’s branch offices in communities around the state are open to help residents with their taxes, whether it’s answering questions, providing forms, or even doing their taxes if they bring a completed federal return. Franchot says those offices are closed as a way to help slow the spread of the COVID-19 virus.
However, he says the Comptroller’s Office website can answer many of their questions. “Go on that and you get almost anything that you wanted answered in person at a branch office. You can ask electronically and we’ll get back to you promptly,” he says.
Franchot says taxpayers who are owed a refund usually file early so they can get their money. But he notes there are always a few people who are due a refund who file late. If that’s you, Franchot says it’s better to file electronically because you will your refund much sooner. “If you file electronically, you’ll get your refund within in two to three days. If you file at this time on a paper return, it’s going to take three or four weeks,” Franchot says.
The Comptroller’s Office website is www.marylandtaxes.gov.
The Comptroller’s Office says about two- and-a-half billion dollars in refunds have been paid out to taxpayers since January, 2020.
By Kevin McManus