When it comes to tax extensions, the state of Vermont abides by the laws and regulations of the federal government. This implies that you will automatically be granted an extension for your Vermont state taxes if you request a federal tax extension.
It’s crucial to remember that a federal extension does not relieve you of your obligation to submit your tax payments on time. You just have additional time to file your tax return as a result. Taxes still have to be paid by the original due date, which is often April 15th.
You might be able to arrange a payment schedule with the Vermont Department of Taxes if you require additional time to pay your taxes. This will enable you to pay your tax debt in full by making regular payments. To create a payment schedule and find out about any fees or interest rates involved, get in touch with the Department of Taxes directly.
As for the third stimulus check, as part of the American Rescue Plan that was passed in March 2021, eligible individuals received up to $1,400. Your income and other factors, such as the number of dependents, will determine the precise amount you received.
There may or may not be a fourth stimulation check at this time. The $1.8 trillion plan put out by President Biden, however, includes additional relief measures including increased child tax credits and money for healthcare and education. Whether Congress will approve this idea is an open question.
In conclusion, Vermont does accept federal tax filing extensions; nevertheless, it’s crucial to keep in mind that any unpaid taxes must still be paid on time. Setting up a payment schedule may be an option if you require additional time to pay your taxes. In terms of stimulus checks, qualified recipients got up to $1,400 as part of the third round of payments; at this time, it is unknown whether a fourth round will be made.