Vermont Income Tax Forms Rates & Services

Vermont homeowners can expect the following changes to go into effect regarding the property tax adjustment programs on their 2007 Vermont taxes:

• the declaration of homestead and property tax adjustment application are combined into one form;
• homeowners may designate all or part of their income tax refund to pay property taxes;
• the education property tax payment and property tax rebate are combined into one education property tax adjustment;
• the new filing due dates are the same for the declaration and property tax adjustment;
• payment of property tax adjustment is made directly to the town; and
• property tax rebates can no longer be used to pay income tax.

The Low Income Child & Dependent Care Credit provides assistance to working parents and caregivers, with a credit amount up to 50% of the Federal child and dependent care tax credit. This is a refundable credit and is limited to:

• those who receive Federal tax credit
• AGI for Single of Head of Household - $29,999 or less
• AGI for Married Joint or Civil Union Joint - $39,999 or less
• care provided by provider accredited by Agency of Human Services, and
• replaces the 24% of Federal credit for those eligible.

Other Helpful Links:
Vermont Department of Taxes: http://www.state.vt.us/tax/index.shtml
Vermont Tax Forms: http://www.state.vt.us/tax/formsincome.shtml
Internal Revenue Service: http://www.irs.gov/