2021 Tax Update
You may have heard that the Maryland Individual tax return due date for filing of 2021 taxes is extended to July 15, 2022. The due date for payments is also extended to July 15.
The due date for the first installment of estimated Maryland tax for 2022 has not been extended. It is due April 18.
However your Federal Individual tax returns are still due on April 18, 2022.
Therefore, the Maryland change does not provide an advantage to procrastinating. 🙂
The IRS has stated they still have millions of returns from last year that have not been processed. They have warned us that they expect greater delays this year due to a variety of factors.
The National Taxpayer Advocate in her report to Congress said she was “deeply concerned about the upcoming filing season”. She called the last tax season “the most challenging year taxpayers and tax professionals have ever experienced.” She reported, “Processing delays led to a cascade of customer service problems.” With so many changes to the tax laws, this year is predicted to be even more challenging.
Therefore, we encourage you to begin preparing your documentation for your personal returns now. Please send that information to us as soon as possible.
As you know, your year-end work is done by our staff…in-house. No outsourcing or bringing in temps during tax season. The staff working on your year-end are the same staff you work with day in and day out. This gives you the greatest accuracy, protection and familiarity with your data.
The earlier you can send your data, the sooner we will complete your 2021 tax returns.
Thanks for helping us help you. It means a lot to us!
Your Staff at CAS