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Vermont: There is Still Time to Audit Yourself

  • Feb 27, 2014 | Gail Cole

 Lake Champlain, Vermont: there is still time to self-reflect and self-audit.

Vermont’s voluntary self-audit program, “Know What You Owe,” ends on May 1, 2014.

The program, created by the Vermont Department of Taxes, is designed to deepen business owners’ understanding of Vermont sales and use tax and meals and rooms tax. Successful participants will have all penalties and 50% of interest owed waived. In addition, their audit look back period will be limited to three years.

The department understands that taxes, particularly use taxes, can be challenging. Often business owners are unaware of their use tax liabilities. The Know What You Owe program teaches businesses owners how to properly calculate and file sales and use and meals and rooms taxes.

The program began on August 1, 2013, and concludes at the end of April. There is still time to participate. Learn more about Know What You Owe.

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Sales tax rates, rules, and regulations change frequently. Although we hope you'll find this information helpful, this blog is for informational purposes only and does not provide legal or tax advice.
Gail Cole
Avalara Author
Gail Cole
Gail Cole
Avalara Author Gail Cole
Gail began researching and writing about sales tax in 2012 and has been fascinated with it ever since. She has a penchant for uncovering unusual tax facts, and endeavors to make complex sales tax laws more digestible for both experts and laypeople.