You Have Options
Your ability to pay will be determined by several factors, including:
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how many dependents you support
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the value of any property you may own
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the combined monthly income of your household
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any assets or debts you may have
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and the monthly expenses for your household
To declare this information, you will need to complete:
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Form TAX-692, Financial and Income Statement for Businesses or,
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Form TAX-693, Financial and Income Statement for Wage Earners and Self-Employed Individuals
Please include supporting documentation of your ability to pay. Supporting documentation includes one or more of the following:
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proof of income or a copy of your financial statements
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pensions, child support, or alimony
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additional record of assets
Payment Plans
Paying the total amount you owe will avoid additional interest and penalty charges. If you are unable to make full payment, you should pay as much as you can. Every case is unique, and your payment plan will be based on a variety of factors specific to you and your situation. Please contact us so that we can help you find a plan that works for you.
We can be reached Monday through Friday from 7:45 a.m. to 4:30 p.m. at (802) 828-2518.
Offer in Compromise Program
Once your debt has become final, the Offer in Compromise program may be the solution for you to consider. If you meet the requirements of the program and your Offer in Compromise Agreement is accepted, you may be able to settle your debt for less than your current balance due.
Frequently Asked Questions
I’m in a payment plan. Why did I receive this certified letter?
The certified letter notifies you that the Department will include you in the Treasury Offset Program (TOP) if the balance is not fully paid within the specified period. If you are entered into the TOP program, the Vermont Department of Taxes requests any overpayment you may have available from your federal (IRS) return to be sent to Vermont and applied to the tax debt(s) listed on that letter. It does not affect the payment plan except to reduce the balance due.
How do I appeal something if it is beyond the appeal period?
Additional information may be reviewed if it is sent in after the 60-day appeal period, but appeal rights are no longer available on that debt. Are you unsure how the appeal process works? Please refer to the appeal process.