Virginia Department of Taxation LogoVirginia Department of Taxation

P.O. Box 1115
Richmond, Va. 23218-1115
May 2013 e-Alerts Digest
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Filing Reminders

 

Corporation Income Tax returns for the taxable year ending on January 31, 2013, must be filed on or before May 15, 2013. Virginia law also provides for an automatic six-month extension of time to file. However, the extension does not allow for additional time to pay any balance of tax due. Payment for any tentative tax due must still be submitted by the original due date.

 

The automatic six-month extension period to file Corporation Income Tax returns for the taxable year ending on July 31, 2012, ends on May 15, 2013.   In order to take advantage of any Virginia automatic extension, the return must be filed during the extension period. Please bear in mind, the extension penalty may apply to returns filed during the extension period if 90 percent of the return's total tax liability was not paid by the original due date. For more details regarding Corporation Income Tax extensions and penalties, visit the Department's Corporation Income Tax page. 

 

Remember: it is very important that the Department maintains accurate information regarding your business. If you close a specific business location or close your business entirely, please update your Virginia tax records. You can update your tax account to reflect closures, as well as update address or contact information, add a new tax to your existing account, or notify the Department that you are no longer liable for a specific tax through the Department's Business iFile system.

 

Reminder: Corporation Electronic Filing Requirements

  

The 2012-2014 Appropriations Act (Item 273 of House Bill 1301, 2012 Special Session I, Chapter 3) required all taxpayers subject to the Corporation Income Tax 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 Corporation 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 Corporation 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 payment method that works best for you, visit "Estimated and Extension Payments" on the Corporation 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.  

 

Helpful Resource:
Virginia Taxpayer Bill of Rights 

 

Corporation Income Tax returns for the taxable year ending on January 31, 2013, must be filed on or before May 15, 2013. Virginia law also provides for an automatic six-month extension of time to file. However, the extension does not allow for additional time to pay any balance of tax due. Payment for any tentative tax due must still be submitted by the original due date.

 

The automatic six-month extension period to file Corporation Income Tax returns for the taxable year ending on July 31, 2012, ends on May 15, 2013.   In order to take advantage of any Virginia automatic extension, the return must be filed during the extension period. Please bear in mind, the extension penalty may apply to returns filed during the extension period if 90 percent of the return's total tax liability was not paid by the original due date. For more details regarding Corporation Income Tax extensions and penalties, visit the Department's Corporation Income Tax page. 

 

Remember: it is very important that the Department maintains accurate information regarding your business. If you close a specific business location or close your business entirely, please update your Virginia tax records. You can update your tax account to reflect closures, as well as update address or contact information, add a new tax to your existing account, or notify the Department that you are no longer liable for a specific tax through the Department's Business iFile system.

 

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