Wyn Delano
WMAL.com
ANNAPOLIS, MD — (WMAL) With Tax Day pushed back to April 18th this year, it would stand to reason that fewer people would be scrambling to fulfill this inescapable part of civic life.
But, much like the tax code itself, human nature seems to defy reason.
Millions of people every year inevitably wait until the very last moment to file, overwhelming systems and forcing extensions.
However, Maryland State Comptroller Peter Franchot says the explanation is simple:
“Most of us are just cheap and tight with a dollar and we don’t like to part with our money. We understand we have to, but we do it reluctantly,” he said.
And its not just a gut feeling.
In Maryland, the Comptroller’s office reported a spike in January and February in which about two million people filed their taxes.
However most of those early returners expected to get money back from the state.
Those who remain tend to be those who owe:
“We have about a million people who owe the state of Maryland and the IRS money and we wait until the last stinking moment to put that in and we don’t like doing it, but we’ve got about a million of them that we’re expecting this week,” Franchot said.
For those who are hopelessly behind, there is an extension available that will give you until October to finish filings – but don’t think that will allow you to keep your cash.
“If you owe us money, even if you ask for an extension, you need to put some checks in the mail to us and the IRS,” Franchot explains.
If you don’t, you may face fines and penalties that could turn even a modest tax bill into something terrifying.
Even in the rush, however, Franchot advises to slow down and follow a few basic precautions such as using a certified tax preparer and guarding your social security number “as if it’s your first born.”
And if you have already filed or plan to do so, the Comptroller has a few words of thanks:
“God bless the state of Maryland: it has such wonderful people who are willing to pay their taxes – even if they don’t like it.”
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