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Tax Relief in Vermont

Vermont MapFor the residents of the state of Vermont, incurring tax debt can lead to severe consequences. When not paid within 60 days, the tax liability leaves them open to be subjected to aggressive enforcement actions. These include a warrant, filing of liens, as well as license suspensions and offsetting any federal refunds, they are entitled to.

Additional penalty fees may also be added to the amount you owe to the IRS, which can accumulate and grow over time. Your business license may even be revoked and you may end up on the receiving end of a notice letting the public know your failure to comply with the tax laws.

Vermont’s local government also imposes personal income tax and it applies to individual salaries and wages. This category may be broadened to include income earned through stocks, notes, and bonds in some states.

Worsening the issue are the problems of low minimum wages and the decreasing median household and family incomes. In Vermont, the median household income (2013) had a value of $52,578 that was higher than the average income of all US States at $52,250. However, the rate showed a 2.7 % decrease from previous year. Despite having a strong average household income in Vermont, tax debt is still prevalent. Many residents are looking for assistance remedying their outstanding balances from professionals.

These companies offer various tax relief programs, the result being a client who is free of tax debt. Strategies used by tax relief firms to achieve this result include audit representation, negotiated penalty abatement, and reconsideration, and tax return amendment and review. A good tax relief firm will ensure that their clients pay off their debt to the IRS in a timely fashion.

 

Vermont Dem Gubernatorial Candidate Proposes Tax Hike After Saying She Opposes Tax Hikes

Vermont's Democratic gubernatorial nominee Christine Hallquist pitched a plan last week to fund free college tuition by increasing the state's alcohol and tobacco tax, among other measures.

Published:  Mon, 17 Sep 2018 13:48:00 GMT



In Tax-Free States, Businesses Squirm At Collecting Online Sales Taxes For Others

Dennis Daugaard signed the measure earlier this month. But in five states - Hawaii, Maine, Mississippi, Oklahoma, and Vermont - collections have already begun, according to the Sales Tax Institute, a ...

Published:  Mon, 17 Sep 2018 08:08:00 GMT



Don't expect a marijuana tax "˜windfall,' commissioner tells advisory group

Photo by Dank Depot/Flickr Tax Commissioner Kaj Samsom poured cold water Monday on predictions that a retail marijuana market in Vermont will fill state coffers with discretionary funds.

Published:  Mon, 10 Sep 2018 18:13:00 GMT



Commission Discusses a Taxed-and-Regulated Cannabis Market for Vermont

He added: "Their recommendation was: Go to tax and regulate." Levine also expressed concern that Vermont's home-grow system would make it easier for kids to smoke dope. "What greater way for youth to ...

Published:  Mon, 10 Sep 2018 16:19:00 GMT



Vermont's 2 Main Gubernatorial Candidates Debate at Fair

Phil Scott said his vision remains making Vermont more affordable for the people who live here. In Scott's first two years, there have been no increases in taxes or fees, income taxes were cut by $30 ...

Published:  Sun, 16 Sep 2018 07:22:00 GMT



Sales Tax and Bitcoin in the United States Can Be Confusing

"The measure of tax is the total amount of the sale or lease ... There are a few other states in the US including Vermont, Illinois, Arizona, Wyoming, and Georgia that have cryptocurrency ...

Published:  Wed, 12 Sep 2018 19:35:00 GMT



My Turn: I'm Walking Away from the Vermont Democratic Party

Why Because Vermont Democrats, at least the ones serving in Montpelier, aren't Democrats anymore. They're Progressives who have taken over our proud party and replaced our values with a high tax, ant...

Published:  Thu, 13 Sep 2018 14:19:00 GMT



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