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(Jan. 19, 2022) — Maryland taxpayers will now have until July 15, 2022 to file and pay their individual 2021 state income taxes.
Maryland Comptroller Peter Franchot on Wednesday announced the extension from the original April 18 deadline, citing taxpayers facing financial difficulties due to the ongoing COVID-19 pandemic. The extension waives penalties and interest on outstanding liabilities.
“Many people are still struggling to stay above water, so giving taxpayers more time to file and pay will hopefully ease their financial pressure,” Franchot said in an issued statement. “As we approach the two-year mark of the onset of COVID-19, my agency remains as committed as ever to helping Marylanders who still are feeling the pandemic’s impact.”
The tax season starts Jan. 24, when federal and state individual income tax returns will be accepted. Federal and state corporate income tax returns are already being processed.
The Internal Revenue Service, which already has warned of processing delays for the 2022 tax season due to the pandemic, has not yet indicated any plans to extend the federal income tax filing and payment deadline beyond April 18.
This marks the third consecutive year that the Comptroller’s office has extended filing and payment deadlines to July 15. These extensions have benefitted roughly 600,000 taxpayers each of the past two years, “enabling them to hold on to a combined $1.8 billion as an interest-free loan, which may have allowed them to take care of more pressing issues like paying rent or keeping their businesses open,” according to the office.
Maryland taxpayers do not need to request an extension to receive the three-month grace period, as it will be automatically granted to all resident and nonresident filers. Taxpayers who expect to receive a refund should file their return as soon as possible and not wait until July 15 to submit.
Taxpayers are encouraged to file their returns electronically and use direct deposit for the fastest possible processing and to ensure they receive all possible refunds as well as avoid continued delays with the United States Postal Service.
If you have any questions about the information above, please contact your E. Cohen advisor.
