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Filing Reminders
Corporate Income Tax and Pass-Through Entity Income Tax returns for the taxable year ending on October 31, 2012 must be filed by TODAY, February 15, 2013.
Even though Virginia law provides for an automatic six-month extension, it is an extension to file, not an extension to pay. At least 90 percent of the total tax liability for the taxable year must be paid on or before the due date of the return. Visit the Department's website for more information. The automatic six-month extension to file Corporate Income Tax returns for the taxable year ending on April 30, 2012, ends TODAY February 15, 2013.
In order to take advantage of Virginia's automatic extension, the return must be filed on or before the end of the extension period.
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Corporation Electronic Filing Requirements
The 2012-2014 Appropriations Act (Item 273 of House Bill 1301, 2012 Special Session I, Chapter 3) requires all corporations to file their estimated tax payments, annual income tax returns, and final payments electronically, beginning on January 1, 2013. This includes Taxable Year 2012 returns, tax due payments, and extension payments, as well as Taxable Year 2013 estimated payments. -
The annual Corporate Income Tax return must be filed through the Federal/State e-File program, which is supported by numerous commercial software applications. For a list of approved commercial e-File software and more information regarding electronic filing, visit the Department's Corporate Income Tax page.
- Tax due payments can be made through the e-File system as a direct debit or by an ACH Credit transaction initiated through the corporation's bank.
- The Department provides two secure online options for electronically submitting estimated and extension payments: e-Forms and Business iFile. For more information regarding these payments and to determine the method that works best for you, visit "Estimated and Extension Payments" on the Corporate Income Tax page of the Department's website. Estimated Tax payments and Extension payments can also be submitted by an ACH Credit.
Corporations unable to file and pay electronically by the effective date may request a waiver.
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Helpful Resource:
Virginia Taxpayer Bill of Rights
The Virginia Taxpayer Bill of Rights booklet outlines taxpayer rights in contacts with the Department, and contains a wealth of other useful information, forms, and instructions.
Intended as a guide to the rights provided in the Code of Virginia under the Virginia Taxpayer Bill of Rights, the booklet also describes the role of the Taxpayer Rights Advocate and the agency's collections, office audit, and field audit processes in detail, and covers the basics for offers in compromise and administrative appeals. The booklet's appendices include forms and instructions for submitting an appeal or an offer in compromise, plus forms for designating a Power of Attorney.
The Virginia Taxpayer Bill of Rights booklet is a valuable resource for both taxpayers and tax professionals. Be sure to bookmark or download a copy of the booklet for your tax reference library!
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