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2021 Vermont Personal Income Tax Season Now Open

vt-world by vt-world
February 16, 2021
in Business, Finance
0

The 2021 tax season officially opened on February 12 at both the federal and state levels. This is the date that the IRS and Vermont begins accepting and processing personal income tax returns for tax year 2020.

The Department offers the following tips to make filing go smoothly and get your refund faster:

• File electronically through a commercial software vendor. Filing electronically reduces the risk of typographical errors and significantly speeds up refund processing time. Last year, taxpayers who e-filed their returns, on average, received their refund nearly two weeks faster than those who mailed paper returns.

• Wait to receive all W-2 forms, 1099 forms, or any other necessary tax documents before filing. Filing too early without all your documentation is one of the most common reasons a tax refund is delayed.

• Check online at myvtax.vermont.gov for the status of tax refunds, Homestead Declarations, Property Tax Credits, and Renter Rebates.

“We know that last year was hard on Vermonters,” said Tax Commissioner Craig Bolio, adding “We’re looking forward to helping our taxpayers navigate the tax filing season and get refunds into the hands of Vermonters as soon as we’re able to.”

Many Vermonters qualify for the Free File program, which allows eligible taxpayers to file electronically for free. In 2020, about 200,000 Vermonters qualified for the Free File program, but only 12,000 or so utilized it. Information is available at the Department’s website, tax.vermont.gov, about who qualifies and how to access this software.

For taxpayers who prefer to use paper forms, Vermont tax forms, worksheets and instructions are available at tax.vermont.gov. The Department will mail the 2020 Vermont Income Tax Return Booklet and paper forms upon request beginning in early February.

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