The 2022 tax season officially opened Monday, Jan. 24 at both the federal and state levels. This is the date that the IRS and Vermont begin accepting and processing personal income tax returns for tax year 2021. The Vermont Dept. of Taxes offers the following tips to make filing and getting your refund easier and faster:
- Wait to receive all W-2 forms, 1099 forms or any other necessary tax documents before filing. Filing too early without all your documentation is one of the most common reasons a tax refund is delayed.
- File electronically (e-file) through a commercial software vendor. Filing electronically reduces the risk of typographical errors and significantly speeds up refund processing time. Last year, taxpayers who e-filed their returns on average received their refunds more than four weeks faster than those who mailed paper returns. Free File allows eligible Vermonters to file their taxes at no cost. Information regarding who is eligible and how to access this software is available at: tax.vermont.gov/free-file. Check online at myvtax.vermont.gov for the status of your tax refund, Homestead Declaration,Property Tax Credit and Renter Credit.
- The 2022 filing deadline for personal and corporate income tax returns, Homestead Declarations and Property Tax Credit claims and fiduciary income taxes is April 18.
- New renter credit: Renters filing for a renter credit (formerly renter rebate) this upcoming season will see some changes that took effect for tax year 2021. Importantly, most renters will no longer need to obtain a landlord certificate from their landlord to file. Additional key changes to the program allow a renter to qualify by renting a minimum of 6 months of the year instead of all 12 months, and renters living in shared households no longer need to share their personal financial information with roommates because renters file credit claims individually.
- For landlords, those with one or more (previously two or more) rental units are required to submit landlord certificates to the department by Jan. 31, but they no longer need to send the certificates to their renters. All landlords are strongly encouraged to file landlord certificates electronically at mytax.vermont.gov, and those with five or more renters are required to file electronically.