A. TaxSlayer’s on-screen Refund Summary
This year (TY2019), Vermont has removed the Renter Rebate Amount from Forms IN-112 and IN-111. An immediate consequence is that a taxpayer’s renter rebate will never be included in TaxSlayer’s on-screen Refund Summary. To see the Renter Rebate Amount (PR-141, Line 11), you must look at the tax return (PDF or paper). B “Do you wish to use your rebate to pay your Vermont Income Tax liability?” This year, Vermont will be processing Renter Rebate Claims and Income Tax returns separately and the payments/refunds will be issued as separate checks or direct deposits (PR-141 instructions for Line 11). Recommendation In general, answer the above question NO Answer YES only if (a) the IN-111 has an Amount Due (Line 31) AND (b) the taxpayer wants to use their Renter Rebate Amount to pay the Amount Due. The TaxSlayer consequences of answering YES to the above question: (1) The value on IN-111 Line 31 will not change (2) The value displayed in the Refund Summary will not change (3) The value on IN-116 will not change and a new IN-116 may be needed. Either (a) Create a new IN-116 on myVTax for the adjusted Amount Due (preferred) OR (b) Write the adjusted Amount Due on the IN-116 If the Renter Rebate Amount fully covers the Income Tax Amount Due, discard the IN-116. (4) Explain the changes to the taxpayer and write a note on their IN-111 return, and (5) Add a Note to the return in TaxSlayer as a reminder C. Behavior in previous years In tax years prior to TY2019, answering YES to the question in B (above) would result in the renter rebate amount being included in the value shown in the Refund Summary. Not so this year.
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