Maryland’s General Assembly has passed a COVID-19 relief package that includes more than $1 billion in tax relief and economic aid to Maryland residents and small businesses. Gov. Larry Hogan signed the bill into law on Monday — just three days after Maryland and the IRS began processing personal income tax returns.
As tax practitioners and their clients begin filing their returns, state tax officials are urging patience in the wake of the bill’s passage. Specifically, officials with the Maryland Comptroller’s Office are kindly requesting that tax practitioners wait to submit further returns until new forms and filing instructions have been released.
With input from members of the MACPA’s State Tax Committee, officials with the Comptroller’s Office are working extremely hard to make the necessary changes to forms and instructions that have been impacted by the bill’s passage, along with required updates to tax software. Those changes will be made as soon as possible. Likewise, members of the State Tax Committee are working hard to understand the impact the relief package will have on the filing of tax returns, and will update MACPA members as developments warrant.
Keep an eye on the MACPA’s State Tax Community for updates.
You can read more about the relief package here:
- Maryland RELIEF Act tax alert (Comptroller’s Office)
- Read the bill in its entirety (Maryland General Assembly)
- Gov. Hogan enacts bipartisan RELIEF Act of 2021 (Maryland.gov)
- Franchot expects Marylanders to see relief as early as Friday (Maryland Reporter)
- How businesses can get sales tax credits included in Maryland’s RELIEF Act (Baltimore Business Journal)