Comptroller Franchot Speaks on Economic Impact of COVID-19 Outbreak

The state mandated Executive Order that has been put in place requires social distancing to limit the spread of the novel coronavirus. As a result, several small businesses have been required limit their hours, while some have had to close their doors completely until further notice. This pandemic is impacting not only businesses but individuals as well.

Comptroller Peter Franchot says although the health and safety of all residents is the top priority, there’s a lot we can do to to prepare for the economic impact of COVID-19.

“All indications are that we remain in the early stages of this public health crisis and the situation will worsen,” Comptroller Franchot said on his website. “With restaurants and retailers already being forced to scale back or close, employees being laid off or having their hours curtailed and small business owners facing financial ruin or drastically altered financial outlooks, it’s already clear that the economic impact will be severe.”

MyMCMedia spoke by phone to Franchot about tax filing deadlines, COVID-19’s economic impact, what’s being done to support small businesses and how to handle your money during the coronavirus crisis.

Taxpayers with any questions about the status of a tax preparer, or to report possible illegal or unethical conduct, should email the Comptroller’s Office at taxhelp@marylandtaxes.gov. An updated list of blocked tax preparers is available at www.marylandtaxes.gov under the “Security” tab.

According to a press release, the Comptroller’s Office has taken several actions to support small businesses, including:

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Jordan Lindsay

About Jordan Lindsay

Jordan Lindsay is a Reporter for My MC Media. Let her help tell your story by emailing jlindsay@mymcmedia.org

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