2015 Vermont: Itemized Deductions - Update
TurboTax contacted certain customers earlier about a possible error in their Vermont 2015 tax return related to Form IN-155 dealing with itemized deductions. We are pleased to share that on July 5, 2016, The Vermont Department of Taxes announced that those taxpayers, who were impacted by this IN-155 form issue, will not be required to amend or pay any additional tax.
If you have not yet amended, you don’t need to take any action. If you have already amended, your payment will be refunded to you by the state.
Click here to see the full Vermont announcement.
What if I haven’t amended yet?
Taxpayers who have not yet amended (because of the form IN-155 issue) need not take any further action.
What if I’ve amended my return?
If you have already mailed your amended return and payment, your check may or may not have been processed.
- Mailed your check to P.O. Box 1500, the mailbox designated for the IN-155 error amendments, and it was received by the Department before June 29th, it has been processed and cashed. A refund will be mailed to you by September 1, 2016 by the state. You do not need to take any more action.
- Mailed your check to P.O. Box 1500, the mailbox designated for the IN-155 error amendments, and it was received by the Department on or after June 29th, the check is being held. It will be destroyed on October 1, 2016 by the state. You do not need to take any more action. However, you may request that Vermont mails the check back to you by calling the Department at 1-866-348-4038.
- Mailed to any other Department P.O.Box, it has been processed and cashed. A refund will be mailed to you in a few weeks by the state. You do not need to take any more action.
Refund checks will be mailed to the address on your tax return. You can update your mailing address on the Department’s website http://tax.vermont.gov/content/change-my-address.
Amended Vermont returns and related payments dealing with the form IN-155 issue, that were NOT sent to the designated P.O Box, will enter the regular processing stream and be cashed. Your payment will subsequently be refunded within a few weeks by the state.
This issue has been fixed in TurboTax. If you are filing an extension and not yet filed your Vermont return, this issue does not impact you.