ANNAPOLIS, MD (January 2, 2007)-State Comptroller William Donald Schaefer, today highlighted some of the new benefits to Maryland taxpayers for the upcoming tax season. Beginning in 2007, if you electronically file your 2006 state return by the April 17 deadline, have a balance due, and choose direct debit or credit card payment, you have until April 30 to pay the balance in full.
"The extra time to pay makes it more convenient for people to work it into their budgets," said Comptroller Schaefer. "Of course, it's always better to file as early as possible, especially if you expect a refund."
iFile, the Comptroller's free Internet tax return filing service, will be open for business Friday, Jan. 12, coinciding with the availability of similar services provided by the Internal Revenue Service (IRS).
Comptroller Schaefer also made it a point to announce changes to Maryland's Earned Income Tax Credit (EITC). If qualifying taxpayers have an EITC that exceeds their Maryland tax liability, they may be entitled to a refund. To qualify for Maryland's EITC, a taxpayer must have a Social Security number.
"We have an opportunity to help more people with the state's Earned Income Tax Credit this year," said Comptroller Schaefer. "If you worked in 2006, especially if you have children, and even if you were exempt from paying state taxes, you may qualify for the state's Earned Income Credit. It's worth looking into."
- Earned Income Tax Credit (EITC) - Taxpayers who qualify for the federal Earned Income Tax Credit and claim it on their federal returns, may be entitled to a Maryland Earned Income Tax Credit if their adjusted gross income is:
- Less than $12,120 ($14,120 for married filing jointly), no children and you are 25-64 years of age;
- Less than $32,001 ($34,001 for married filing jointly) and you maintained a home for a child for at least six months of the year;
- Less than $36,348 ($38,348 for married filing jointly) and you have two or more children.
Note: Marylanders will have until Tuesday, April 17, 2007, to file their state taxes due to the observance of Patriot's Day, a state holiday in Massachusetts. The IRS processes Maryland tax returns at its service center in Andover, Mass. Patriot's Day commemorates the battles of Lexington and Concord, the first battles of the American Revolutionary War, in 1775.
Find out what else is new for the 2007 Maryland tax season. Free state tax help is also available, Monday - Friday, from 8 a.m. to 5 p.m., by calling 1-800-MD TAXES. Also on the Web, visit the IRS, at: www.irs.gov.
On the Net:
Official Comptroller of Maryland site: http://www.marylandtaxes.com
CONTACT:
Kevin P. Kane, 410-260-7578
