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Finances & Money Taxes

Finally, Maryland Tax Refund is “Forthcoming”!

After receiving a letter a couple weeks ago from the Maryland Comptroller that my taxes owed would be “going to collections” at the end of the month unless I paid them, I got a bit nervous. That’s considering I was expecting a $1,400 refund!

So as an update to this post, Stacie went to the SSA, got the letter of proof of who she is, and we faxed it over to the MD Comptroller around May 12th. It’s now June 3rd and I placed a call to Maryland today and found out some good news:

The return was processed and the refund should be sent any day now!

I signed up for direct deposit, but I’m not sure if they’ll honor it because of all the problems. They might just send a check, but as long as it gets here for the correct amount, I won’t complain.

Unfortunately, though, my father-in-law found some 1099-INT forms for interest we earned early last year. That means we’ll have to file amended federal and state tax returns yet again AND pay penalties and interest on our federal return (not sure about the MD return yet). Sheesh. It never ends, does it?

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Clever Dude

7 Comments

  • Anytime I get a statement that includes an interest payment on it, I immediately add that interest payment to a computer document (or it can be a hand-written document) that lists all my bank accounts separately. That way at the end of the year I don’t even have to bother waiting for the bank to send me a 1099-INT form because I have an up-to-date running tab on interest payments for each specific account. Doing this can help preclude overlooking 1099-INT forms and your headache of refiling your taxes.

  • @Joe. I agree, but I failed to mention this was for some accounts from Stacie’s old hometown bank that we closed early last year. They mailed the statements to her parents as they didn’t have our address on file. Her dad thought they were his forms and waited to tell us until around April 15th. By then, we couldn’t do anything about it since we were waiting for my other booboo to correct itself before we could file any amendments.

  • JM, I think the interest earned is in the $20-40 range (gonna find out this weekend). It’s only a few dollars in interest, but it’s the pain of filling out more forms and mailing them off.

  • Hey, I just saw the IRS and the FBI and the CIA and the NAACP come by your house looking for you, and they said if they don’t get your tax money soon they’re going to seize your Webkinz!!! 🙂

  • I’m not a tax professional, but for $20 – $40 of interest, I wouldn’t file the amended return.

    It’s a hassel, and you’re saying you will be penalized to boot. If the amount was significant I would definitely file the amedned return, but for $40 of excluded interest income, it probably isn’t worth the trouble.

    If you feel that bad about it, morally speaking, just tack it onto next years return.

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