The 2024 tax season officially opened January 29, at both the federal and state levels. This is the date that the IRS and Vermont begin accepting personal income tax returns for tax year 2023.
The Department offers the following tips to make filing and getting your refund easier and faster:
• 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.
• File electronically through a commercial software vendor. Filing electronically reduces the risk of errors and significantly speeds up refund processing time. Last year, taxpayers who e-filed their returns saw their refunds on average in less than three weeks, while the average refund time for paper filers was over eight weeks.
• Free File allows eligible Vermonters to file their taxes at no cost. Information regarding who is eligible and how to access this software is available at the Department of Taxes’ website, tax.vermont.gov/free-file.
• After you have filed, you can check online at myvtax.vermont.gov for the status of your tax refund, Homestead Declaration, Property Tax Credit, and Renter Credit.
The 2024 filing deadline for personal and corporate income tax returns, Homestead Declarations and Property Tax Credit claims, and fiduciary income taxes is April 15.
Vermont resident homeowners must file a Homestead Declaration each year and may qualify for a Property Tax Credit as well. Both the Homestead Declaration and Property Tax Credit Claim can be filed when you file your Vermont Personal Income Taxes.
The eligibility for the Vermont Earned Income Tax Credit and Vermont Child Tax Credit have been expanded this year. Taxpayers who otherwise qualify for these credits but do not have a Social Security Number or an Individual Tax Identification Number are now eligible to receive the credit in Vermont.