Understanding the tax process in Vermont is essential for every taxpayer. This guide is put together to help residents of Vermont State acquire a clear understanding of how to track their tax refund, the reasons behind potential delays, and details about Vermont’s tax system. With this guide, you will be able to manage your tax obligations effectively and ensure you sail through the tax season.
How to Check the Status of Your Vermont State Refund Online?
To check the status of your Vermont state tax refund online, follow these steps:
Step 1: Go to the official website of the Vermont Department of Taxes.
Step 2: Look for a section or link that says “Where’s My Refund?” or “Check Refund Status.” This is usually found under the “Individuals” or “Personal Tax” section.
Step 3: You will typically need to provide your Social Security Number, the tax year for which you check the refund status and the exact amount of your expected refund.
Step 4: After entering your information, click on the ‘submit’ button to get an idea about the status of your refund.
Step 5: The website will display the status of your refund, including whether it has been processed, approved, or sent.
If you encounter any issues or have questions about your refund, contact the Vermont Department of Taxes for assistance. It’s also important to note that refund processing times can vary, so it may take several weeks to receive your refund.
Remember, you can always try Beem to file your federal and state taxes without hidden charges and get the maximum refund.
What Can Cause a Delay in My Vermont Refund?
There could be many reasons why you experience a delay in getting your refund. Some of these are explained below:
Filing Errors: Ensure all information on your tax return matches the Tax Department’s records to avoid delays.
Early Filing: Wait for all tax documents, like W-2s or 1099s, before filing to prevent delays.
Processing Time: E-filed returns typically take 6-8 weeks, while paper returns take 8-12 weeks.
Fraud Prevention: The Tax Department’s fraud checks might extend processing time.
Remember that if you’ve overpaid your taxes, you have up to three years from the due date of your return (including extensions) to file a claim for a refund.
Vermont Tax Brackets
Like many others, Vermont’s state income tax is progressive. Its top rate, however, is the seventh highest in the United States. The Vermont State income tax brackets by filing status are as follows:
| Tax Rate | Single Filer | Head of Household | Married Filing Jointly | Married Filing Separately |
| 3.35% | Up to $45,400 | Up to $60,850 | Up to $75,850 | Up to $37,925 |
| 6.60% | $45,401-$110,050 | $60,851-$157,150 | $75,851-$183,400 | $37,926-$91,700 |
| 7.60% | $110,051-$229,550 | $157,151-$254,500 | $183,401-$279,450 | $91,701-$139,725 |
| 8.75% | Over $229,550 | Over $254,500 | Over $279,450 | Over $139,725 |
These brackets apply to your taxable income, which is your total income minus any deductions and exemptions you’re eligible for.
Vermont State Tax Deductions and Credits
In Vermont, taxpayers can take advantage of various tax deductions and credits to reduce their tax liability. Two of the most popular tax credits available to residents are the Child and Dependent Care Credit and the Earned Income Tax Credit (EITC).
The Child and Dependent Care Credit in Vermont is designed to assist taxpayers who incur expenses for the care of a child or dependent while they work or look for work. This credit equals 72% of the federal credit, which can significantly reduce the tax owed.
The Earned Income Tax Credit (EITC) is another valuable credit for low- to moderate-income working individuals and families. In Vermont, the EITC equals 38% of the federal credit. This credit is refundable, meaning that if the credit amount exceeds the taxpayer’s liability, they can receive the difference as a refund.
These credits and other deductions available in Vermont help make the tax system more progressive and provide financial relief to those who need it most.
Conclusion
In conclusion, understanding Vermont State’s tax system is essential for residents to ensure timely receipt of their tax refunds and to maximize their tax savings. By being aware of how to check the status of your refund, recognizing potential causes for delays, and taking advantage of available tax deductions and credits, taxpayers can effectively manage their state tax responsibilities. Always consider seeking advice from the Vermont Department of Taxes for personalized guidance and the most current information.
Employing a professional or using online tax preparation software or guides like Beem to claim deductions and credits as a bonus is also helpful.
