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Individual Income Tax
Filing Reminders
Individual Income Tax payments are due on or before Jan. 15, 2014 from:
- Calendar year filers who need to make estimated tax payments toward their tax liability.
Paying your estimated income tax using the Department's free online service is the fastest and most efficient way to make your payment. For information on determining whether estimated tax payment requirements apply, visit the Department's Individual Income Tax Estimated Payments web page.
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Corporation Income Tax
Filing Reminders
Corporation Income Tax returns (Form 500) are due electronically on or before Jan. 15, 2014 from:
- Fiscal year filers whose taxable year ends on Sept. 30, 2013.
- Fiscal year filers whose taxable year ends on March 30, 2013 and who are filing under Virginia's automatic 6-month extension.
For details regarding Corporation Income Tax extensions and penalties or for information on how to file and pay electronically, visit the Department's Corporation Income Tax web page.
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Pass-Through Entity
Filing Reminders
Pass-Through Entity returns (Form 502) are due on or before Jan. 15, 2014 from:
- Fiscal year filers whose taxable year ends on Sept. 30, 2013.
- Fiscal year filers whose taxable year ends on March 30, 2013 and who are filing under Virginia's automatic 6-month extension.
For details regarding pass-through entity filing extensions and penalties visit the Department's Pass-Through Entity web page.
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General Information Reminders
Virginia Automatic Extension Reminder: Virginia law provides for an automatic 6-month extension from the original due date for filing for individual income taxpayers, Corporation Income taxpayers filing Form 500, and Pass-Through Entity taxpayers filing Form 502. In order to take advantage of the automatic extension, the return must be filed on or before the end of the extension period.
Please note: The automatic extension does not allow for additional time to pay any balance of tax due. Penalty and/or interest may apply to returns with a tentative tax due that was not paid by the original due date for filing the return. Also, the extension penalty may apply to returns that were filed during the extension period if less than 90 percent of the return's total tax liability was paid by the original due date.
Electronic Filing Mandate Reminder: All taxpayers that are subject to the Corporation Income Tax must file their estimated tax payments, annual income tax returns, and final payments electronically. This includes taxable year 2012 returns, tax due payments, and extension payments, as well as taxable year 2013 estimated payments. Taxpayers subject to the Corporation Income Tax that are seeking a waiver of the requirement to file and/or pay electronically due to undue hardship should submit the Virginia Corporation Electronic Filing Waiver Request form.
Remember: It is very important that the Department maintains accurate information regarding taxpayer businesses. Many tax account updates can be performed through the Department's Business iFile system. Visit the Online Services FAQ web page for information on what updates taxpayers can make through Business iFile.
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Advancement of Virginia's Fixed Date Conformity with the IRC
Virginia's date of conformity with the Internal Revenue Code (IRC) was advanced from December 31, 2011, to Jan. 2, 2013, with limited exceptions. Virginia will continue to disallow federal income tax deductions for bonus depreciation allowed for certain assets under IRC §§ 168(k), 168(l), 168(m), 1400L and 1400N; the five-year carryback of federal net operating loss deductions generated in taxable years 2008 or 2009; and federal income tax deductions for applicable high yield discount obligations under IRC § 163(e)(5)(F).
At this writing, the only required adjustments for "fixed date conformity" were those mentioned above. However, if federal legislation is enacted that results in changes to the IRC for taxable year 2013, taxpayers will be required to make adjustments to their Virginia returns that are not described in the instruction booklet. Information about any such adjustments will be posted on the Department's website at www.tax.virginia.gov.
Virginia Income Tax Treatment of Same-Sex Marriage: Guidance for same-sex married couples filing Virginia income tax returns is available on the Department's website at www.tax.virginia.gov. See the "What's New" section for individuals.
Deduction for Prepaid Funeral, Medical, and Dental Insurance Premiums: Effective for taxable years beginning on and after Jan. 1, 2013, an individual who is 66 or older with earned income of at least $20,000 for the year and federal adjusted gross income of $30,000 or less for the year is allowed to deduct the amount he pays annually for (i) a prepaid funeral insurance policy that covers him or (ii) medical or dental insurance premiums for any person for whom individual tax filers may claim a deduction for such premiums under federal income tax laws.
Please note: Additional "fixed date conformity" adjustments may affect Corporation (Form 500) and Pass-Through Entity (Form 502) tax return filers. For details on adjustments that may impact those forms, see the form instructions.
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New Customer Services
Phone Menu
The Department recently converted to a new phone system that will improve the customer experience for taxpayers and tax professionals. During the conversion, the phone menu options presented when a taxpayer calls Customer Services were also changed.
The main menu now offers callers the following options:
- Check the status of your refund by phone
- Set up a payment plan for a tax bill
- Obtain contact information from the Department
- Listen to a description of the Department's online services
- Connect to a Customer Services Representative
If a caller decides to speak with a Customer Services Representative, the representative can assist with:
- Placing an order for tax forms
- Information about their refund status
- Inquiries about a bill issued by the Department
- Specific questions regarding his/her tax account
To discuss information regarding a client's account, or general Individual Income Tax inquiries, call the Tax Professionals Hotline at (804) 367-9286.
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Tips and Tools
for Tax Professionals
Did you know that the Department offers a wide range of resources for tax professionals? Be sure to put these tools to work for you!
The Department's Tax Professionals Hotline at (804) 367-9286 is open Monday through Friday, 8:30 a.m. to 4:30 p.m., to provide quick responses to your inquiries about client accounts or other tax questions. This service is not limited to the Individual Income Tax; the Department will respond to your questions on any tax administered by the agency.
For electronic filing information, early release forms, instructional materials, and special contact information, bookmark the Department's
Tax Professionals Page.
The Department's Laws, Rules & Decisions web page offers a variety of information, including Tax Bulletins, Legislative Summaries, and Rulings of the Commissioner. Use the Laws, Rules & Decisions web page for researching the latest information on interpretations of Virginia tax law.
Other website features and services that you may find helpful are the Department's "What's New" pages for individuals and businesses, tax forms, online filing and secure messaging services, and agency publications, just to name a few.
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