Vermont has not issued guidance regarding the federal exclusion of unemployment income for tax year 2020.
What if I filed before March 15th and excluded the unemployment income?
- If Vermont conforms, taxpayers who filed after March 15, 2021 and took the exclusion at the federal level would need to take no further action
- If Vermont does not conform, the state will issue further guidance to taxpayers who already filed their tax return, The state would offer a grace period to correct returns without penalty or interest related to this change.
Do not file an amended return until Vermont issue further guidance.