TaxBandits supports the filing of Form 1099 with both the Federal and State of Vermont.
A. Yes, the Vermont Department of Taxes mandates the filing of the 1099 Forms only if there is state tax withholding.
A. Vermont requires the filing of the following 1099 forms only if there is state tax withholding.
A. Yes. Vermont also has an additional form WHT-434 (Reconciliation) to be sent if there is a state tax withheld to filed along with Form 1099.
A. Form WHT-434 is an Annual Reconciliation used to report the total income taxes withheld from employees/contractors.
A. The filing due date for both Form 1099 and WHT-434 is January 31.
A. The State of Vermont suggests filing electronically if you are submitting 25 or more 1099s.
A. The penalty for failing to file a tax return is 5% per each month that the return remains unfiled. Returns filed more than 60 days after the original due date are assessed a $50 late filing penalty, even if no tax is owed unless an extension has been filed. The maximum civil penalty is 25% of the unpaid tax due.