Maryland – The tax preparation services come under essential service and will be open for business during the quarantine. The Comptroller Peter Franchot clarified it in a statement. The statement says that the tax preparation services are categorized under financial services as outlined in the list of exempt businesses in Governor Hogan’s March 23rd executive order, thus will be open as a critical infrastructure sector.
Earlier this month, the deadlines for individual and corporate income tax filings and payments were extended to July 15 and June 1 for business-related tax payments. Taxpayers and businesses hire professionals to file their taxes. So this assistance is open during the lock down too. This will make sure that tax filing and payment processes complete on time and are accurate. It is recommended that taxpayers implement digital record keeping practices.
The state cannot afford to close down these tax preparation services as once the pandemic is under control and the economy starts the rebuilding process, a delay in revenues and taxpayers will bring a lag in the receipt of their refunds. Also if the skilled professionals are not working, people will rely on non regulated frauds to prepare their papers which will lead to illegal activities.
The statements mentions that the fraud detection teams are in place and more vigilant than ever. This is the time when people commit fraud and use testing times as the time to earn money from innocent citizens. The officials are keeping a watch and the financial services are open so only contact the duly regulated professionals to file your tax papers.
