Worksheet IN-152 Underpayment of Estimated Individual Income Tax - Vermont

What Is Worksheet IN-152?

This is a legal form that was released by the Vermont Department of Mental Health - a government authority operating within Vermont. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

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

Q: Who needs to fill out Worksheet IN-152?A: Anyone who made estimated tax payments in Vermont and wants to determine if they owe additional tax due to underpayment should fill out Worksheet IN-152.

Q: What is the purpose of Worksheet IN-152?A: The purpose of Worksheet IN-152 is to calculate the amount of underpayment penalty for individuals who did not pay enough estimated tax throughout the year in Vermont.

Q: How do I fill out Worksheet IN-152?A: To fill out Worksheet IN-152, you need to provide information about your estimated tax payments, including dates and amounts, and calculate the underpayment penalty using the provided instructions.

Q: What happens if I have underpaid my estimated tax in Vermont?A: If you have underpaid your estimated tax in Vermont, you may be subject to an underpayment penalty, and Worksheet IN-152 can help you calculate the amount.

Q: Can I avoid the underpayment penalty in Vermont?A: You may be able to avoid the underpayment penalty in Vermont if you meet certain safe harbor provisions, such as paying at least 90% of your current year tax liability or 100% of your prior yeartax liability.