Taxpayers in Maryland are in their final week to file and pay their 2021 state personal income taxes before they start accruing penalties. The July 15 extended deadline was set at the beginning of 2022 by Maryland Comptroller Peter Franchot for both individual income tax filing and payments and first and second quarter personal estimated tax payments.
Partner Mark Welsh noted some taxpayers are just now looking to file, while others could be looking at the first round of penalties if they do not file and pay these taxes by July 15.
“Starting July 16th, let’s say you owe money from 2021 or you decided that you don’t have the money to pay your first and second quarter estimates penalties will start, penalties and interest will start accruing July 16 until you get those paid,” Welsh said. He also advised filing and paying electronically, as it makes for a more efficient tax return submission and creates fewer delays or issues when receiving the refund.
Read the full article published by WMDT.