Options Available for Missed Tax Deadline

State income taxes were due July 15, but there is help for those who may have missed it. The deadline was extended this year due to the pandemic.

If taxpayers have a tax bill, and they don’t have the money, they should pay as much as they can, according to a message from the State Treasury. Taxpayers will likely still have to pay the rest, but the Treasury says they will work out a plan for payment. A penalty waiver can be requested if reasonable cause can be proven. A monthly payment plan can also be arranged. There is also an Offer in Compromise option where an agreement can be reached to settle a final tax bill. Applications for all of the options can be found at Michigan.gov.

The Michigan State Treasury warns that refunds are only available for four years, so returns should be filed promptly to claim any outstanding refunds. 

According to State Treasurer Rachael Eubanks, “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.”

Reporting for WGRT – Jennie McClelland