You are required by VT law to file an amended VT return within 60 days of:
1) becoming aware of a change to VT income;
2) filing an amended return with the IRS; or
3) receipt of a notice of the change by the IRS.
A late file penalty will be assessed if the amended VT return is not filed within the 60 days.
- Change to VT income An amended return is due even if the change is not the result of filing an amended Federal income tax return or an adjustment made by the Internal Revenue Service. For example, a nonresident or part-year resident may discover the amount of income taxable to VT is different from the amount originally reported. The amended return must be filed within 3 years of the due date of the return, including extension.
- Change of Federal tax information by IRS You are required to file an amended VT return within 60 days of notification by the Internal Revenue Service, even if this is past the 3-year limit, when adjustments to your Federal return affect your VT income tax. These adjustments include, but are not limited to, changes in Federal taxable income, capital gains amount, earned income tax credit, the Federal tax credits passed through to VT tax, or any other change that affects your VT tax. Attach a copy of all Federal forms showing changes to the VT amended return. The IRS and VT Department of Taxes routinely share information. Differences in the information on file with the IRS and the VT Department of Taxes, other than those allowed by VT law, are identified and may be audited.
- Filing an amended Federal tax return You are required to file an amended VT return within 60 days of filing an amended return with the Internal Revenue Service if VT income is affected. See Change of Federal tax information by IRS for examples of changes affecting VT income tax.