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IRS Grants Extensions Due to Winter Storms
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IRS Allows Extra Time to File
The IRS is granting many businesses affected by recent severe winter storms five additional days to request a six-month extension to file their 2017 federal income tax returns. Similarly, the Vermont Department of Taxes will also grant the additional five days. Business taxpayers who were unable to file their 2017 Vermont income tax returns by the due date of March 15 have until Tuesday, March 20, 2018, to file an extension.
Get more information.
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New IRS Withholding Calculator Available
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IRS has issued a new withholding calculator for 2018
The IRS has announced a new withholding calculator and a new version of form W-4 for 2018. They reflect changes to withholding enacted by the Tax Cuts and Jobs Act. Changes include increasing the standard deduction, removing personal exemptions, increasing child tax credit, limiting or discontinuing certain deductions and changing the tax rates and brackets. Employees should use the
IRS Withholding Calculator to find out how many allowances they should claim. Avoid a serious overpayment or underpayment by adjusting withholding as soon as possible. This gives employees more time to catch up to the correct 2018 withholding, if needed
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New Technical Bulletin on Corporate and Business Nexus
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New TB-70 addresses corporate and business income nexus
The Department of Taxes issued a new technical bulletin on March 1.
TB-70, Corporate and Business Income Tax Nexus, Filing Requirements, and Minimum Tax Liability, summarizes the Department's administration of Vermont law on corporate and business nexus. Please review this technical bulletin to be sure your business is meeting Vermont requirements.
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Report Business Credit Card Payments Using FEIN
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Correct reporting of credit card payments on 1099-K
If you are a business that takes credit card payments from customers, make sure the payments issued by the bank go to your business Federal Employer Identification Number, not your Social Security Number. If this income is not reported correctly on the 1099-K from your bank to the IRS, it may create discrepancies between income reported on the 1099-K and income you claim on your personal income tax..
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New Fact Sheets
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Sales and use tax on cleaning services for linens and other rented items
Payment of sales and use tax by contractors
See our
complete list
for more fact sheets, guides, and infographics.
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Meet with IRS Agent by Video Conference
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Do you have questions about your federal income tax return?
Meet with an IRS agent via the IRS Virtual Service Delivery Program. You will video conference with an agent and be able to show the agent your return(s) and supporting documents via the internet.
The service is available Monday and Wednesday by appointment only.
Call 844-545-5640 to schedule an appointment. Please do not call the Vermont Department of Taxes.
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New Video: How to Navigate Our Website
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New Video demonstrates the Department of Taxes website
Watch a new 8-minute video giving an overview and tour of our website. Get tips for navigation and learn how to search and locate information fast. See the video here.
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Subscribing to this e-Newsletter
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Tell your colleagues
If you know anyone who would be interested in the content of Department newsletters, please let them know how to sign up by sharing this link.
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When You Have a Question
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Businesses with questions can reach the Department at 802-828-2505 (option 2). This phone number for businesses is answered Monday, Tuesday, Thursday, Friday 7:45AM-4:30PM. We do not take calls on Wednesdays.
For questions about Sales and Use Tax, Meals and Rooms Tax, Local Option Tax, Withholding, or for support with myVTax, email tax.business@vermont.gov.
We are here to help.
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