MONTPELIER, Vt. (AP) – The state of Vermont had an unexpected, if temporary, $16.3 million windfall in February, mostly due to a delay in issuing income tax refunds due to concerns about fraud.
Tax Commissioner Mary Peterson says there are reports of increased fraud and that it’s becoming more sophisticated. She says the state was moving cautiously with refunds in February but now has more information so is able to issue tax refunds more quickly.
She says by the end of the week, refunds for tax returns filed electronically will probably be issued in about 10 days. She says if a return triggers a review, the refund could take about a month to get out.
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Source; WCAX posted Mar 10, 2016 1:13 PM EST: http://www.wcax.com/story/31438082/vermont-income-tax-refunds-delayed-by-fraud-concerns.