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      July 20, 2018

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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.

Vermontís 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.


State's anticipated tax surplus comes in at $65 million

Vermont's anticipated tax surplus from fiscal year 2018, which had been ballooning in recent months, came in at a total of $65 million, state officials reported this week. The surplus was no surprise ...

Published:  Thu, 19 Jul 2018 18:21:00 GMT

Thousands of Vermonters get incorrect property tax bills

MONTPELIER, Vt. (WCAX) "About 4,000 to 5,000 people will get an incorrect property tax bill," Vt. Tax Commissioner Kay Samsom said. Be sure to review your property tax bill if it came this month. The ...

Published:  Thu, 19 Jul 2018 14:21:00 GMT

Tax Commissioner Takes Responsibility for Tax Bill Errors

MONTPELIER, Vt. (AP) - Vermont Tax Commissioner Kaj Samson is taking responsibility for property tax bill errors after as many as 4,500 property tax bills went out with the wrong rate or missing a pro...

Published:  Thu, 19 Jul 2018 13:10:00 GMT

How a Vermont Fly-Fishing Museum's Lawsuit Changed the Definition of a Nonprofit

The museum sued, arguing that it was a tax-exempt nonprofit - setting off a legal battle that went all the way to the Vermont Supreme Court. The court's 1989 ruling favored the museum over the town an...

Published:  Wed, 18 Jul 2018 07:13:00 GMT

Check Your Property Tax Bill: Tax Dept. Missed Deadline For Issuing Some Adjustments

The Vermont Department of Taxes was not able to process all of the property tax adjustment claims in time to meet a July 1 deadline. As a result, towns that sent out their tax bills on that date may h...

Published:  Wed, 18 Jul 2018 13:54:00 GMT

Philadelphia's soda tax upheld by the state supreme court

An active soda tax, however, is not solely responsible for a reduction in sugary drink consumption; suggesting one is enough. The American Heart Association found in Vermont, that attitudes about suga...

Published:  Fri, 20 Jul 2018 07:11:00 GMT

Backlog to blame for thousands of inflated property tax bills

This article by Matt Hongoltz-Hetling was initially published in the Valley News. WHITE RIVER JUNCTION - A backlog within the Vermont Department of Taxes in processing key tax forms tied to the state' ...

Published:  Wed, 18 Jul 2018 16:14:00 GMT

Vermont Congressman Peter Welch Discusses Bill To Revise EV Tax Credit

Our friend Alex Guberman over at E for Electric recently scored an interview with Rep. Peter Welch (D-Vt.) to discuss legislation that the Representative introduced two weeks ago. If Representative We...

Published:  Tue, 17 Jul 2018 09:48:00 GMT

Vermont tax department misses deadline for adjustments

Vermont residents are urged to take a second look at their property tax bills. Vermont Public Radio reports the state Department of Taxes was unable to process all adjustment claims by the July 1 dead...

Published:  Wed, 18 Jul 2018 22:30:00 GMT

Vt. Homestead Tax Forms Delayed

White River Junction - A backlog within the Vermont Department of Taxes in processing key tax forms tied to the state's income sensitivity program has led to thousands of Vermonters receiving property ...

Published:  Wed, 18 Jul 2018 21:04:00 GMT

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