“Our local businesses are facing serious economic and logistical challenges and the Administration will do all it can to help them get back on their feet and operational as soon as possible,” said Secretary of Administration Susanne Young. “The waiver of penalties and interest is within the current authority of the Tax Commissioner. Realizing we must be prepared to provide additional relief, the Administration will work with the Legislature in the coming weeks to explore additional stimulus opportunities for our local businesses affected by the COVID-19 pandemic.”
Vermonters are advised as well that income tax filing due dates for the following taxes have been extended from April 15, 2020 to July 15, 2020:
- Vermont personal income tax
- Vermont Homestead Declaration and Property Tax Credit Claims
- Corporate income tax
- Fiduciary income tax
This means taxpayers can file and pay these taxes on or before July 15, 2020 without any penalty or interest. This includes any tax year 2020 estimated payments that were due for these taxes on April 15th, 2020.
Although the filing deadline has moved, Vermonters can file their returns and claims any time before July 15. Anyone expecting a refund is encouraged to do so. In these uncertain times, that refund will make a difference and Vermonters are assured that the Tax Department is open for business and continues to process returns and refunds. For those who self-prepare, the fastest and easiest way to file is electronically with commercial tax preparation software.
- Who Qualifies for “Head of Household” Tax Filing Status? - April 6, 2021
- How to ensure life insurance isn’t part of your taxable estate - March 30, 2021
- New law tax break may make child care less expensive - March 23, 2021
- New law: Parents and other eligible Americans to receive direct payments - March 16, 2021
- Estimated tax payments: The deadline for the first 2021 installment is coming up - March 10, 2021