Maryland residents must submit their state tax returns by April 15 of each year. Taxpayers occasionally need to revise their forms, though, because of mistakes or modifications to their tax situation. Is it possible to file Maryland amended tax returns electronically?
Yes, revised tax returns for Maryland may be submitted electronically. The Maryland Comptroller’s office provides an online tool called “iFile” that enables users to electronically submit state tax forms, including revised returns. By visiting the Maryland Comptroller’s website and choosing the “iFile” option, taxpayers can access this service.
Taxpayers must first electronically file their initial return using the “iFile” program in order to submit an amended return. Taxpayers can use the same facility to file an updated return after filing the original return. Within three years after the original return’s date or within two years of the tax payment date, whichever comes first, the updated return must be filed.
Taxpayers in Maryland must disclose sales tax in addition to amending their forms electronically. Taxpayers must register with the Maryland Comptroller’s office and get a sales tax license in order to report sales tax. Once they have registered, taxpayers can use the “Maryland Business Express” portal to electronically file their sales tax returns.
In Maryland, LLCs must file taxes in a manner akin to that of people. A yearly tax return for LLCs must be submitted to the Maryland Comptroller’s office. All of the LLC’s income from the tax year must be included in the return. Additionally, LLCs are required to submit an annual report to the Maryland State Department of Assessments and Taxation that contains information on the LLC, its members, and its registered agent.
The cover sheet, the personal property return, the annual report form, and the filing fee are the four parts of the annual report. The report’s contents are summarized on the cover page, and the LLC’s tangible personal property is listed in the personal property return. Basic facts about the LLC, like its name and address, are included in the annual report form. The filing fee is a charge made to the state of Maryland for the right to conduct business there.
The Maryland State Department of Assessments and Taxation will issue a notice of non-compliance to a taxpayer if they fail to submit an annual report. The LLC could be dissolved or forfeited if an annual report is not submitted. In addition, taxes that are paid late or not at all may be subject to fines and interest.
Finally, the “iFile” tool can be used to electronically file Maryland modified tax returns. Before filing an amended return, taxpayers must first electronically file their initial return. Taxpayers are required to disclose sales tax in addition to filing tax returns, and LLCs must submit an annual tax return as well as an annual report. The LLC could be dissolved or forfeited for failing to submit yearly reports, in addition to facing fines and interest.