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Vermont Underpayment of Estimated Individual Income Tax
Extracted from PDF file 2023-vermont-worksheet-in-152.pdf, last modified January 2024Underpayment of Estimated Individual Income Tax
Underpayment of 2023 Estimated Individual Income Tax 2023 VERMONT WORKSHEET IN-152 Please Print or Type Taxpayer Information Taxpayer’s Last Name First Name MI Social Security Number Spouse’s/CU Partner’s Last Name First Name MI Social Security Number Required Annual Payment 1. 90% of 2023 VERMONT TAX MINUS CREDITS: (Form IN-111, Line 20 minus Line 25c, multiplied by 90% (0.90)). . . . . . . . . . . . . . . . . . . . . . . . . . 1. ___________________________ .00 2. 100% of 2022 VERMONT TAX MINUS CREDITS: (Form IN-111, Line 20 minus Line 25c).. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2. ___________________________ .00 3. Enter the lesser of Line 1 or Line 2.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3. ___________________________ .00 Calculations DUE DATES OF QUARTERLY PAYMENTS CALCULATION OF UNDERPAYMENT April 15, 2023 June 15, 2023 Sept. 15, 2023 Jan. 15, 2024 4. Tax payments required per quarter (Multiply Line 3 by .25). . 5a. From 2023 Form IN-111, add Lines 25a, 25d, and 25e, then multiply by 25% (0.25) per quarter . . . . . . . . . . . . . . . . . 5b. Enter 2022 carryforward and 2023 quarterly estimated payments made by the due date per quarter. . . . . . . . . . . . . . . 5c. Add Lines 5a and 5b. Each quarter should not equal more than Line 4; apply any excess to the next quarter. . . . . . 6. Underpayment per quarter (Subtract Line 5c from Line 4). This line cannot be less than zero.. . . . . . . . . . . . . . . . . . . . . . 7. Date FULL payment was made or April 15, 2024, whichever date is earlier.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . CALCULATION OF INTEREST 8a. Number of days AFTER the due date to the date reported on Line 7 for each quarter, or Jan. 1, 2024, whichever date is earlier 8b. Number of days FROM Jan. 1, 2024 to the date payment was made on Line 7 for each quarter, or April 15, 2024, whichever date is earlier. 4th quarter: Use number of days from Jan. 15, 2024.. . . 9a. Interest due for 2023 (Divide Line 8a by 365, multiply by 4.00% (0.04), then multiply by Line 6). . . . . . . . . . . . . . . . 9b. Interest due for 2024 (Divide Line 8b by 365, multiply by 8.00% (0.08), then multiply by Line 6). . . . . . . . . . . . . . . . 10. Interest due per quarter (Add Lines 9a and 9b). . . . . . . . . . . . 11. Total underpayment interest due (Add Line 10 columns). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11. CALCULATION OF PENALTY 12. Number of months FROM the due date of that quarter to the date shown on Line 7 (a portion of a month counts as a whole month) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13. Penalty due per quarter (Multiply Line 12 by 1% (0.01) then by Line 6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. Total underpayment penalty due (Add Line 13 columns). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14. TOTAL INTEREST AND PENALTY 15. Total underestimated interest and penalty due (Add Lines 11 and 14) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15. 5454 Worksheet IN-152 Page 1 of 1 Rev. 10/23 Totals
Worksheet IN-152
More about the Vermont Worksheet IN-152 Individual Income Tax Estimated TY 2023
We last updated the Underpayment of Estimated Individual Income Tax in February 2024, so this is the latest version of Worksheet IN-152, fully updated for tax year 2023. You can download or print current or past-year PDFs of Worksheet IN-152 directly from TaxFormFinder. You can print other Vermont tax forms here.
Related Vermont Individual Income Tax Forms:
TaxFormFinder has an additional 51 Vermont income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Vermont Worksheet IN-152.
| Form Code | Form Name |
|---|---|
| Worksheet IN-152A | Annualized Income Installment Method for Underpayment of Estimated Individual Income Tax |
View all 52 Vermont Income Tax Forms
Form Sources:
Vermont usually releases forms for the current tax year between January and April. We last updated Vermont Worksheet IN-152 from the Department of Taxes in February 2024.
Worksheet IN-152 is a Vermont Individual Income Tax form. While most taxpayers have income taxes automatically withheld every pay period by their employer, taxpayers who earn money that is not subject to withholding (such as self employed income, investment returns, etc) are often required to make estimated tax payments on a quarterly basis. Failure to make correct estimated payments can result in interest or penalties.
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Vermont Worksheet IN-152
We have a total of nine past-year versions of Worksheet IN-152 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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