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      November 14, 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.


Walters: Republican Mailer Slams Hallquist on Taxes

Vermont households are receiving mailers from a national Republican organization that support Gov. Phil Scott and slam Democratic challenger Christine Hallquist as a tax-and-spender. The mailer, obtai...

Published:  Thu, 01 Nov 2018 13:53:00 GMT

In West River Valley, A Conversation About Education Spending, Tax Rates, And Local Control

Homeowners often complain about property taxes. But efforts to curb property ... following the West River school district in Southern Vermont to understand how it deals with the budget process ...

Published:  Fri, 09 Nov 2018 13:44:00 GMT

Fact-check: Does Vermont have the country's "ėmost progressive' tax system

Incumbent Republican Gov. Phil Scott speaks during a debate against Democratic candidate Christine Hallquist at the Paramount Theatre in downtown Rutland on Oct. 10. Photo by Bob LoCicero for ...

Published:  Mon, 29 Oct 2018 14:50:00 GMT

Vermont (State of) -- Moody's affirms Vermont's Aa2 transportation infrastructure bonds and property transfer tax bonds; outlook stable

SEE ALSO: China's hidden $6 trillion debt pile is an 'iceberg' posing a 'titanic risk' ¬Ľ

Published:  Tue, 23 Oct 2018 12:58:00 GMT

B&H is set to collect sales tax in 20 more states, grab Apple deals before the changes take effect

although the online retailer also reports annual sales to local tax authorities in Colorado, Vermont and Washington State. Starting next week, however, B&H will begin collecting sales tax in 15 more s...

Published:  Sat, 06 Oct 2018 17:58:00 GMT

Vermont Officials Discuss Elimination Of Social Security Benefits Tax

The Vermont Legislature passed a bill this session that eliminates the state taxation of Social Security benefits. In Montpelier today, Governor Phil Scott was joined by agency representatives and the ...

Published:  Thu, 26 Jul 2018 15:36:00 GMT

What the Senate tax plan would mean to Vt. seniors

BURLINGTON, Vt. (WCAX) The House and the Senate are now trying to reach an agreement the biggest tax reform plan since the late 1980s. The Senate bill will directly impact every American but we wanted ...

Published:  Fri, 08 Dec 2017 15:13:00 GMT

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