Payments of MD PTE not been withdrawn from client bank accounts

[jzchen_2000]

My MD PTE clients told me that the payments of their online filed MD PTE tax returns are not withdrawn from their bank accounts though all payment requirement are met, and therefore, their personal MD tax returns are not completed by now. Any one have same problem?

[IntuitMark304]

jzchen_2000 - can you clarify a few items about the issue you reported? 

The MD PTE clients you are referencing - are they MD Form 510 filers?  

If so, are they electing to remit tax on resident members' share of income?  Or are they only submitting withholding tax on behalf of nonresident members' share of income?  

Any more detail on the scenario you can provide would be helpful in my investigation of the issue.  

Thanks for your help - hopefully we can get to the bottom of the issue quickly.

[jzchen_2000]

a. Yes. All these Clients are MD Form 510 filers?  

b. Yes. they elected to remit tax on resident members' share of income because MD new option on electing to remit tax on MD resident members' share of income.

c. After the election, the payment for MD resident members will be allocated to their state form K-1.

d. E-filed these tax returns with the box of use electronic fund withdrawal of state balance due marked, and payment date entered.

e. Some clients told both earlier and now that the money were not withdrawal after the set, and due day of MD S corp and LLC 2020 tax returns filed, and the payment still not be withdrawal by now.

f. All these clients' personal 2020 MD tax returns are filed before the due day but none of their tax was processing competed by state now.

[sjrcpa]

They should be 511 filers. 511 has not been released yet (Comptroller's office may release it today.)

All MD returns and payments are due July 15. 

Maybe these items are the problem.

[IntuitMark304]

Word from MD is that the release of the new Form 511 is on hold for now.  Still investigating the payment issue that was posted.

[sjrcpa]

Form 511 and instructions were released about 30 minutes ago.

Can I start complaining that the software is not updated yet? 🙄

Administrative Release 6 has not been revised yet.

[jzchen_2000]

What should do for those PTE who have e-filed 2020 MD income tax returns with electronic funds withdrawals on time: file amended MD tax retrn, wait for proseries instruction, or mail the payment checks?

[dascpa]

I have posted this numerous times - tax preparers - please let your client pay their own taxes.  If we take on the added responsibility of paying the clients taxes then we can be held at fault if things don't go as planned. And if you read this board, time after time people complain about withdrawals not happening or happening late.

In Maryland for example you cannot pay your final individual tax balance due online. You can via credit card through a separate system.  Yes, you can pay estimates, extensions, past due balances but not final 502 balances.  Why, who knows? Just had a millennial tell me they don't have checks.  Everything they do is via their phone.  Well, time to grow up.  Not everything happens the way you want it.  Deal with it.  Go get a bank check.  Order a few checks.  Ugh, tired of babysitting.