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How to remove the State Tax Penalty

Hi There,

 

I believe Maryland state automatically granted people 3 months of extension to file their returns, therefore, if I file my returns now, I should be exempt of penalty. However, Turbotax still caculates the penalty as it's passed 4/15. How can I remove the penalty amount before efiling?

 

Thank you.

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Accepted Solutions

How to remove the State Tax Penalty

In both the federal and state interview sections ... when you come to the penalty section... you can choose to have the state/fed calculate it for you  ...

 

1d.jpg1c.jpg

 

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6 Replies

How to remove the State Tax Penalty

If you cannot complete and file your Form 502, 505, 510C or
515 by the due date, you should complete the Tax Payment
Worksheet to determine if you must file for an extension. If
line 6 of the worksheet shows you owe tax, you must file
Form PV and pay the full amount due by April 15, 2022, (or
the 15th day of the fourth month following the close of the
tax year). If the due date falls on a Saturday, Sunday or legal
holiday, the return must be filed by the next business day.
NOTE: Filing an extension does not extend the time for
paying your taxes.

However, be aware that if an unpaid liability is disclosed
when you file your return, you may owe penalty and interest
charges in addition to the tax.
Automatic Maryland six-month extension
If you filed a federal extension and expect to owe zero tax
to Maryland we grant you an automatic six-month extension
of time to file your Form 502, 505, 510C or 515. You are
not required to file for an extension in order to obtain
this automatic extension.

 

 

so you will owe  penalties and interest if you did not pay the balance due on or before 4/15 

How to remove the State Tax Penalty

Please review State requirement first before answering the question:

 

What's New for the Tax Year (marylandtaxes.gov)

 

Filing Deadline

Your income tax return is due July 15, 2022.

Business income tax return dates vary. See Filing Extensions and Deadlines for Corporations

How to remove the State Tax Penalty

In both the federal and state interview sections ... when you come to the penalty section... you can choose to have the state/fed calculate it for you  ...

 

1d.jpg1c.jpg

 

How to remove the State Tax Penalty

Thank you for your answer @Critter-3 but you missed my question. My question is how to ask Turbotax not to calculate the penalty? Maryland allow us to file before 7/15 without extension or penalty, but Turbotax missed this rule. Thank you.

How to remove the State Tax Penalty

I answered your question as to how to stop TT from calculating the penalty ... choose that option in the program.  The fact that TT program was not updated with that change is not a surprise.

How to remove the State Tax Penalty

Yes, you did. Sorry. I just checked and it worked. Thank you.

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