Do you owe back state taxes? The Vermont Tax Amnesty Program, or VTAP, offers a rare opportunity to pay those taxes and have the late payment penalty waived. The last amnesty program for Vermont taxes ran in 1990.
We understand in this current economic climate, many otherwise compliant taxpayers may have fallen behind in their payments. Since late payment penalties can be up to 25% of the tax amount, this could be a significant savings for some people and help them settle up their tax obligations, said Acting Commissioner of Taxes Ellen Tofferi.
From July 20 to August 31, 2009, people can pay the tax, interest and applicable fees and have the late payment penalty forgiven. Payment must be by check or in cash and VTAP applies to the taxes administered by the Vermont Department of Taxes.
The Vermont Department of Taxes identified tax bills eligible for amnesty reduction and sent notification to the individuals. However, even if you did not receive a letter, you may still be eligible for VTAP and should contact the Vermont Department of Taxes.
A special VTAP web site is available at www.vermonttaxamnesty.com and provides contact information, a list of tax bill types eligible for amnesty, links to tax returns that may be needed as well as questions and answers on the provisions of VTAP. Information is also available by calling 802-828-2821.
Source: Vermont Department of Taxes. July 16, 2009
Vermont Tax Amnesty Program begins July 20
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