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Vermont tax deadline relief

Submitted by tim on

Vermont Business Magazine The Department of Taxes today announced relief for businesses who owe Meals and Rooms Tax or Sales and Use Tax until further notice. Taxpayers who are unable to meet the March 25th and April 25th deadlines on these taxes due to COVID-19 mitigation steps, will not be charged any penalty or interest for late submissions of these taxes. 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 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.

    For more information visit

https://tax.vermont.gov/coronavirus.

Stay Informed

The latest amendments to Governor Scott’s emergency declaration include:

Automatic Deferment on Existing SBA Disaster Loans

The U.S. Small Business Administration has announced changes to help borrowers still paying back SBA loans from previous disasters. Deferments through December 31, 2020 will now be automatic, so borrowers of home and business disaster loans do not have to contact SBA to request deferment.

For more information, call the SBA disaster assistance customer service center at 1-800-659-2955 or e-mail disastercustomerservice@sba.gov. For local SBA information, call 802-828-4422.

Interactive Public Wi-Fi Hot Spot Map Now Available

The Vermont Department of Public Service has released an interactive Public Wi-Fi Hot Spot Map to help Vermonters connect to publicly available internet service during the COVID-19 pandemic. The map includes the location of the Wi-Fi hot spots and pertinent information about how to access them, including places where users can access Wi-Fi from outside the building or in a parked vehicle to encourage social distancing. Vermonters are encouraged to send information about Wi-Fi hot spots to [email protected] and review additional connectivity resources from the Department of Public Service online.

IRS Coronavirus Tax Relief

The IRS has announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees.

Additional guidance, including how to claim the credits in advance, is being prepared and will post to the IRS Coronavirus Tax Relief page as soon as it is available.

Business Impact

We are still interested in hearing from all Vermont businesses impacted by the response to the COVID-19 virus. Please continue to share these impacts via the Agency Business Impact Form, which will help us assess the full impact as we work toward solutions.

Source: ACCD 3.23.2020