Important Vermont Tax Updates
All Sales and Use, and Meals and Rooms tax payments are delayed, without penalty or interest, until further notice.
Vermont State Income and Corporate Taxes filings are extended until July 15th.
For more information, visit the Vermont Department of Taxes website.
Tax Credit Update from HR6201
The Families First Coronavirus Response Act creates emergency paid sick leave, as well as paid family leave in the case of school closures, for working families impacted by COVID-19. It does so by requiring employers with up to 500 employees to provide paid sick leave and paid family leave, while providing a refundable payroll tax credit to employers to cover 100 percent of the cost of wages. There is also a refundable income tax credit for self-employed individuals.
For more information, read this press release from the House Ways and Means Committee.
The federal filing deadline has been extended to July 15th. For the most up-to-date federal tax information, visit the IRS website here.
Social Security Taxes for Nonprofit Employees
This pdf provides more information about Social Security taxes if you work for a nonprofit organization.