BALTIMORE — Time is running out to claim tax refunds for 2019. The IRS estimates nearly 1.5 million taxpayers may be owed almost $1.5 billion in refunds, but they only have a few more weeks to claim it.
This includes 31,400 Marylanders who may be entitled to $32,344,500 in refunds with a median potential refund of $897, plus additional tax credits that could amount to hundreds or even thousands of dollars more.
While taxpayers typically have three years after the April deadline to file their taxes, the IRS has extended the deadline three more months to July 17, 2023.
“This is all really related to COVID and trying to give folks time to catch up because everybody's life has been compressed and made more complex since COVID,” said Andy Schaufele, chief deputy comptroller for the State of Maryland.
Maryland mirrors the federal government so the same goes for state taxes. And Schaufele stresses this is something you don't want to miss.
“We really want to encourage them to come in file that return and let us get that money that they're owed. It's really not going to be a penalty type scenario,” said Schaufele.
In addition to their federal and state refunds, taxpayers may qualify for the Earned Income Tax Credit (EITC), which ranges from $529 to $6,557, depending on eligibility.
“After July 17 that money goes away, unfortunately, then we are out of the law. We cannot give you that Earned Income Tax Credit if that is indeed what you’re due or your own withholding if that's what you are due. So, we really do encourage people to take advantage,” Schaufele added.
Schaufele knows it's already daunting to file your taxes and while compiling paperwork from four years ago may seem impossible, the Comptroller's Office can assist.
“If you get with your employer, they will get you the paperwork. In many cases, we might have some digital copies of the paperwork so we can help you figure out who you need to get your paperwork from. But most importantly, the Comptroller's Office offers tax preparation services. So you can come into any one of our branch offices, and our staff will happily help you file those returns, they will sit down with you and guide you through it,” said Schaufele.
While there may be penalties for late filing, the Comptroller's Office is willing to work with individuals who proactively seek their assistance. The IRS also has a first-time penalty abatement program and has refunded penalties collected for late 2019 and 2020 returns.
For those in need of help with filing taxes, the Maryland Comptroller's Office provides both in-person and virtual appointments. It is highly recommended that taxpayers schedule an appointment online, although a limited number of walk-ins are accepted as well. Click here for more information on how to contact the Comptroller's Office.