How to Pay Maryland Estimated Taxes Online?
A Maryland estimated tax payment is a way to pay taxes throughout the year for income that wasn't taxed through withholding. The IRS recommends that taxpayers make these payments in four equal installments, but you can deviate from this schedule if you prefer.
Whether you have to file and pay Maryland estimated tax or you are preparing to do so, it is important that you use an online system to do so. Doing so eliminates the risk of lost or misplaced mail, saves time and helps avoid late payment penalties. You can make Maryland estimated tax payments electronically via direct debit, credit card or e-check. However, you must have a return on file for your name to make an online payment. If you choose to use a credit card, the credit card processing company will charge an additional 2.49% fee.
Individuals who work for themselves, freelancers, S corporation shareholders and certain high-income taxpayers are required to make quarterly estimated tax payments. These payments are designed to account for income that is not subject to tax withholding. Failing to pay enough taxes throughout the year can result in IRS penalties, so making quarterly estimated tax payments is critical.
When to Make Maryland Estimated Tax Payments?
You can make Maryland estimated tax payments online at any time, but it is best to do so early in the quarter. The online system is easy to use and allows you to enter the primary taxpayer’s first name, middle initial, last name, Social Security number and address. It also asks for the current calendar year and the payment amount. You can also choose to input banking information or attach a payment voucher. Once you submit your payment, you will receive confirmation that it was made.
Using the Comptroller of Maryland’s online tax payment service is an easy and convenient way to make your state tax payments. This website is designed for ease of use and optimized for mobile devices. It is a secure, encrypted site that is available around the clock.
You can make your Maryland estimate tax payment online using the Comptroller’s Official Payments website or by mailing a check to the address on Form PV. If the due date of your estimated tax payment falls on a weekend or holiday, you can still make it on time if you mail your payment on the next business day.
