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Select board approves small tax abatements and hears report of $20,570 IRS filing discrepancy
Summary
The board approved two personal-property tax abatements and was informed of an IRS notice about filing discrepancies that may carry a $20,570 penalty; staff said they requested an extension and will follow up.
The Select Board approved two personal-property tax abatements: warrant 2024-70 for $2,160 and warrant 2024-71 for $9.36. Members moved and seconded both items and approved them by voice vote.
Later in the meeting, town staff reported receiving an IRS notice that cited a $20,570 discrepancy tied to payroll filings (staff said the annual W-3 totals did not match the four quarterly filings). Staff said they had provided backup information and received an eight-week extension to respond while they reconcile records and work with auditors.
Board members directed staff to continue reconciling the payroll reports and to update the board on the outcome of the IRS review. Separately, staff said the town's bank balance had declined because of large warrants and that they planned to seek a short-term line of credit; staff noted the town's existing line of credit expires in May and that FEMA reimbursements remain in process.
