Worksheet in-152 - Underpayment of 2018 Estimated Individual Income Tax - Vermont

Worksheet in-152 - Underpayment of 2018 Estimated Individual Income Tax is a legal document that was released by the Vermont Department of Taxes - a government authority operating within Vermont.

FAQ

Q: What is Worksheet in-152?
A: Worksheet in-152 is a form used to calculate the underpayment of 2018 estimated individual income tax for residents of Vermont.

Q: Who needs to use Worksheet in-152?
A: Residents of Vermont who did not pay enough estimated individual income tax in 2018 may need to use Worksheet in-152.

Q: What is the purpose of Worksheet in-152?
A: The purpose of Worksheet in-152 is to determine if an individual owes an underpayment penalty for not paying enough estimated income tax in 2018.

Q: How do I use Worksheet in-152?
A: To use Worksheet in-152, you will need to gather information about your income, withholding, and estimated tax payments for 2018. The worksheet will guide you through the calculations.

Q: When is Worksheet in-152 due?
A: Worksheet in-152 is due when you file your Vermont state tax return for the 2018 tax year.

Q: What if I owe an underpayment penalty?
A: If you owe an underpayment penalty as calculated on Worksheet in-152, you may need to make a payment to the Vermont Department of Taxes when you file your tax return.

Q: Can I avoid an underpayment penalty?
A: To avoid an underpayment penalty, you must pay at least 90% of your total tax liability for the year or 100% of your prior year tax liability (110% if your adjusted gross income is over a certain threshold).