- Associated Press - Wednesday, July 6, 2016

MONTPELIER, Vt. (AP) - The Vermont Department of Taxes says people who underpaid their taxes due to a calculation error in some popular tax preparation programs won’t have to repay the state after all.

The state says the software company Intuit, which makes TurboTax software, has agreed to contribute more than $2.7 million to the Vermont General Fund and H&R; Block is contributing $44,000. The state is seeking additional contributions from other software companies.

The software incorrectly calculated some itemized deductions.

About 19,000 filers who took itemized deductions were affected. The average underpayment was about $130.

The state had asked affected taxpayers to repay the amount due. The Tax Department’s Candace Morgan says people who repaid the amount will receive refunds.

LOAD COMMENTS ()

 

Click to Read More

Click to Hide