Vermont Department of Taxes Issues Guidance on 2016 WHT-434 Electronic Filing Requirements
The Vermont Department of Taxes has issued a publication for corporate taxpayers providing guidance on the mandated electronic filing of the Annual Withholding Reconciliation (Form WHT-434) and the accompanying Forms W-2 and/or 1099. Taxpayers can use myVTax, the department’s online system, to file via a bulk upload or data entry at www.myvtax.vermont.gov. The electronic filing mandate is effective for (1) employers whose total number of W-2 and 1099 forms submitted will exceed 25, (2) payroll filing services and tax preparers submitting information for multiple employers, and (3) IRS CF/SF 1099 filers using FIRE (Filing Information Returns Electronically) who need to file Form WHT-434 to reconcile Vermont tax withheld. The publication provides information pertaining to the Form WHT-434 Annual Reconciliation filing methods, the record format and the record layout specifications, the two different record types of transactions, and the specifications on the various document record definitions.
Vermont Department of Taxes Announces January 31 Filing Deadline
On January 6, 2017, the Vermont Department of Taxes issued a press release informing corporate taxpayers that, beginning 2017, the due date for employers to file their annual reconciliations (Form WHT-434) and Forms W-2 and/or 1099 is on or before January 31. The former February 28 due date is no longer valid, and the new January 31 due date is applicable for both electronic and paper filings. Employers can use myVTax, the Vermont Department of Taxes’ online system, to file their annual reconciliations and W-2s/1099s.
See the 2017 Withholding Tax Due Dates