Virginia Department of Taxation

P.O. Box 1115

Richmond, Va. 23218-1115

(804) 367-8031 (Individual)

(804) 367-8037 (Business)

January 2015 e-Alerts Digest 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, 2014.
Fiscal year filers whose taxable year ends on March 30, 2014 and who are filing under Virginia's automatic six-month extension.

Virginia Automatic Extension Reminder: Virginia law provides for an automatic six-month extension from the original due date for filing. 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.

For details regarding Corporation Income Tax extensions and penalties or for information on how to file and pay electronically, visit our Corporation Income Tax webpage. Additional electronic filing information is posted on the Corporate e-File webpage.

Electronic Filing Mandate Reminder: All taxpayers who are subject to the Corporation Income Tax must file their estimated tax payments, annual income tax returns, and final payments electronically. If this requirement imposes an undue hardship on a taxpayer, the taxpayer may request a waiver from the Tax Commissioner. Taxpayers seeking a waiver of the requirement to file and/or pay electronically because of 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 using our Business iFile system. Visit the Online Services FAQ webpage for information on what updates taxpayers can make through Business iFile.

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