Tax payments on hold
MONTPELIER- Gov. Phil Scott has directed the commissioner of taxes to exercise his authority to provide relief to Vermont businesses who owe meals and rooms tax or sales and use tax until further notice. Many of Vermont’s businesses find themselves unable to meet the March 25 and April 25 filing deadlines due to the implementation of mitigation steps to slow the spread of COVID-19. Taxpayers who are unable to meet the deadlines will not be charged any penalty or interest on these taxes for late submissions.
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: Vermont personal income tax; Vermont homestead declaration and property tax claims; corporate income tax; and fiduciary income tax.
This means taxpayers can file and pay these taxes on or before July 15, without any penalty or interest. This includes any tax year 2020 estimated payments that were due for these taxes on April 15. 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. For the most up to date guidance visit www.tax.vermont.gov.