State taxes were due May 17th. If you forgot, you are not alone. The Michigan Department of Treasury did not forget, and they have some tips for filing a late return.
State Treasurer Rachel Eubanks said, “Taxpayers who missed last week’s individual income tax filing deadline have options. If you have an outstanding tax debt and cannot make full payment, we will work with you on payment options. Our goal is to help taxpayers limit interest charges and late payment penalties.”
The Treasury reminds taxpayers that they have four years to get a tax refund. After that, they forfeit the return. If money is owed, it’s better to file and pay as much as possible to limit interest charges and late payment penalties.
If taxpayers just don’t have the money to pay, they have some options. They can request a penalty waiver but must show reasonable cause such as serious illness, natural disaster, or criminal acts against the taxpayer. They can also make monthly payments through an installment agreement, which must be approved by the Treasury.
Finally, taxpayers can try to negotiate their tax bill through an offer in compromise. More information can be found on the Treasury eservices website.
To get started with Treasury eServices, go to www.michigan.gov/incometax and click on “eServices Individual Income Tax.”
Reporting for WGRT – Jennie McClelland
