Due to the ongoing economic impact of COVID-19, Maryland has extended certain tax types for individuals and business for 2021. Here is the breakdown of the tax deadline extensions for Maryland.

 

 

CORPORATE & PASS-THROUGH ENTITY INCOME TAX FILINGS & PAYMENTS

  • Due dates of tax returns and remittances between January 1, 2021 and April 14, 2021 are now due April 15, 2021.
    • Interest and penalty will be assessed on any unpaid tax starting April 16, 2021 until tax is paid in full.
  • Due date of estimated taxes due between January 15, 2021 and April 14, 2021 are now due April 15, 2021.
    • Extensions are automatic and do not require a filing.
  • If no tax is due and a Federal extension is requested, no filing of MD Form 500E, 510E, or any other action to extend due date to November 15, 2021.
  • Extension for statute of limitations for filing a claim for refund of income tax also applies.
    • Claims for these returns must be filed no later than April 15, 2024.

SALES & USE TAX

  • Due dates of tax returns and remittances between January 20, 2021 and April 14, 2021 are now due April 15, 2021.
    • Affects returns for sales taking place in December 2020, January 2021, and February 2021.
    • Returns and payments may be submitted by April 15, 2020 without incurring any interest or penalties.
    • Do not combine separate reporting period into a single return. File them separately.

WITHHOLDING TAX

  • Due dates of tax returns and remittances between January 1, 2021 and March 31, 2021 are now due April 15, 2021.
    • Affects payments due for January, February, and March 2021
    • Does not include any 2020 payment due with withholding reconciliations due on or before January 31, 2021
    • Payments due between February 1, 2021 through April 14, 2021 may be submitted in April 15, 2021 and will not incur interest and penalties.
    • Do not combine separate reporting period into a single return. File them separately.

INDIVIDUAL & FIDUCIARY ESTIMATED INCOME TAX FILINGS & PAYMENTS

  • Due dates for estimated tax filings and payment due between January 15, 2021 and April 14, 2021 are now due April 15, 2021.
    • Extensions are automatic and do not require a filing.

OTHER TAXES

  • Admissions & Amusement Tax
    • Due dates of tax returns and remittances between January 10, 2021 and April 14, 2021 are now due April 15, 2021.
  • Alcohol Taxes
    • Due dates of tax returns and remittances between January 1, 2021 and April 14, 2021 are now due April 15, 2021.
  • Tobacco Taxes
    • Due dates of tax returns and remittances between January 15, 2021 and April 14, 2021 are now due April 15, 2021.
  • Motor Fuel Taxes
    • Due dates of tax returns and remittances between January 1, 2021 and April 14, 2021 are now due April 15, 2021.
  • Tire Recycling Fees
    • Reports and fees due on January 2021 are now due April 15, 2021 without incurring interest and penalties.
  • Bay Restoration Fees
    • Reports and fees due on January 20, 2021 are now due April 15, 2021 without incurring interest and penalties.

As we have been doing with all coronavirus legislation and IRS and SBA guidance during these past several months, we will be sure to update you with any additional insight as soon as possible. Continue to check back here for the most up to date tax information and changes in response to coronavirus. If you have questions about this or related topics contact an MCB Advisor at 703-218-3600 or click here. 

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