VA Tax News

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  • 24 Jan 2024 6:08 PM | Anonymous

    Wednesday, Jan. 31, 2024, is the due date for submitting 2023 withholding records, including W-2 and 1099 forms. Issuers of 1099 documents can find specifications in our W-2/1099 guide for web upload

    Filing Options

    There are two free online filing options available to help you submit withholding records electronically:   

    • eForms, a fast and free way to file and pay state taxes online; and
    • Web Upload, which allows you to file and pay employer withholding and income tax statements.

    We also accept corrected W-2s (or “W-2Cs”) for Tax Year 2021 and beyond. Use this form to update or change wage or withholding data. For Tax Year 2020 and prior years, payroll providers and employers will need to submit written copies of updated W-2s.

    The authentication process (for both eForms and Web Upload) works the same way for W-2Cs and W-2s, so taxpayers should be prepared to enter requested withholding info to be authenticated.

    More information about the Withholding Tax Deadline

    Visit the Virginia Tax website for more information, or call the Virginia Tax Business Customer Service team at 804.367.8037.


  • 18 Dec 2023 12:20 PM | Lisa Noon (Administrator)

    A free electronic filing option is now available on our website for electing Pass-Through Entities (PTEs) filing Tax Year 2022 PTET returns.

    As a reminder, the filing extension deadline for calendar year filers was October 16, 2023. Provided that entities have paid in full by their original due date (April 17, 2023 for calendar year filers), we’ll waive the $100 minimum late filing penalty for those who use this free online filing option by February 1, 2024.

    File Tax Year 2022 PTET  

    Entities will be prompted to register for an online business account (iFile) to use this filing option (if they don’t already have one). Tax preparers can register, create a unique ID number, and give this number to their PTE clients so the clients can set the preparer up as a user in the account.

    PTET payments

    Regardless of when an entity files, we encourage them to pay in full by their original due date to avoid penalties and interest. If the entity has not paid in full by their original due date, we encourage them to pay in full as soon as possible to reduce any additional penalties or interest. Payments must be made using the PTET-PMT eform or ACH credit.

    For additional details about Tax Year 2022 PTET returns, see Tax-Bulletin 23-8.

    More information about PTET

    During the 2022 Session, the Virginia General Assembly passed legislation that established a PTET. The PTET return (Form 502PTET) must be filed electronically, and there is no waiver from the electronic filing requirement. PTET filing and payment requirements vary depending on the tax year. Please continue to monitor the Virginia Elective Pass-Through Entity Tax page of our website for updates regarding other tax years.

    Contact us at 804.367.8031 for individual income tax questions and 804.367.8037 for business tax questions.


  • 30 Nov 2023 10:22 AM | Lisa Noon (Administrator)


    During the 2022 Session, the Virginia General Assembly passed legislation that established a Pass-Through Entity Tax (PTET). 

    The PTET return (Form 502PTET) must be filed electronically, and there is no waiver from the electronic filing requirement.

    PTET filing and payment requirements vary depending on the tax year. Please review the information below for details and continue to monitor the Virginia Elective Pass-Through Entity Tax page of our website for additional updates.

    Tax Year 2023 Filers

    • Beginning with tax year 2023, electing PTEs are required to make estimated payments, typically on a quarterly basis.
    • Electing PTEs can use our PTET-PMT eform or ACH credit to make the required payment.

    Tax Year 2022 Filers

    • The filing extension deadline for calendar year filers is October 16, 2023.
    • Starting in December 2023, we’ll have a new, free electronic filing option available through our online application for businesses. Provided that entities have paid in full by their original due date (April 17, 2023 for calendar year filers), we’ll waive the $100 minimum late filing penalty for those who use this free online filing option by February 1, 2024.
    • Regardless of when an entity files, we encourage them to pay in full using the PTET-PMT eform or ACH credit as soon as possible to avoid additional penalties and interest.
    • For more information, see Tax-Bulletin 23-8

    Tax Year 2021 Filers

    • If they wish to do so, PTEs can now make Tax Year 2021 PTET payments using the PTET-PMT eform or ACH credit. Any Tax Year 2021 PTET payment made by a PTE will be considered a valid and binding election for Tax Year 2021. However, please note that electing PTEs are not required to pay their Tax Year 2021 PTET now and can wait to pay until they file their Tax Year 2021 PTET return.

    Contact us at 804.367.8031 for individual income tax questions and 804.367.8037 for business tax questions.


  • 30 Nov 2023 10:21 AM | Lisa Noon (Administrator)


    Virginia's interest rates will remain the same for the first quarter of 2024. Federal rates remain unchanged. State and certain local interest rates are subject to change
    every quarter due to changes in federal rates established pursuant to Internal Revenue Code (“IRC”) § 6621.

    Federal rates for the first quarter of 2024 will be 8% for tax underpayments (assessments) and 8% for tax overpayments (refunds) by noncorporate taxpayers. Accordingly, the Virginia rates for the first quarter of 2024 will be 10% for tax underpayments (assessments) and 10% for tax overpayments (refunds). 

    Details about the interest rates for the first quarter of 2024 can be found in Tax Bulletin 23-9


  • 04 Oct 2023 11:26 AM | Anonymous

    As some pass-through entities (“PTEs”) are waiting for a free online filing option to file their Taxable Year 2022 pass-through entity tax (“PTET”) returns, Virginia Tax is granting a waiver of the minimum $100 Late Filing Penalty that would otherwise apply to a late-filed PTET return, so long as PTEs comply with the requirements as outlined in the bulletin. The relevant payment deadlines will remain the same.

    View the tax bulletin.

  • 15 Sep 2023 3:20 PM | Anonymous

    VTAX updated the 2023 Legislative Summary to reflect the reconvened General Assembly session on April 12 and Special Session I on September 6. Any legislation included after Special Session I is not included.

    The following became effective on September 14, 2023: 

    • Clarification regarding Virginia's Conformity to the IRC
    • 2023 Individual Income Tax Rebate Fund
    • Reinstatement of the combined Sales and Use Tax Holiday
    • Real Property Tax: Data Centers (Amendments to the 2023 Appropriation Act)

    References to chapter numbers are to the corresponding chapters in the Acts of Assembly, which may be viewed at: https://lis.virginia.gov

  • 08 Sep 2023 12:21 PM | Anonymous

    Virginia's interest rates will change for the fourth quarter of 2023.The underpayment and overpayment rates for Virginia taxes are 2% higher than the corresponding federal rates. Federal rates for the fourth quarter of 2023 will be 8% for tax underpayments (assessments) and 8% for tax overpayments (refunds) by noncorporate taxpayers. Accordingly, the Virginia rates for the fourth quarter of 2023 will be 10% for tax underpayments (assessments) and 10% for tax overpayments (refunds).

    Details about the interest rates for the fourth quarter of 2023 can be found in Tax Bulletin 23-7

  • 15 Jun 2023 11:47 AM | Anonymous

    Virginia Interest Rates Remain the Same for Third Quarter

    Federal Rates Remain Unchanged: State and certain local interest rates are subject to change every quarter due to changes in federal rates established pursuant to Internal Revenue Code (“IRC”) § 6621. IRC § 6621 dictates that the federal underpayment and overpayment rates are three percentage points higher than the federal short-term rate. Federal rates for the third quarter of 2023 will be 7% for tax underpayments (assessments) and 7% for tax overpayments (refunds) by noncorporate taxpayers.

    Virginia Code § 58.1-15 provides that the underpayment rate for Virginia taxes will be 2%
    higher than the corresponding federal rate and the overpayment rate for Virginia taxes will be 2% higher than the federal overpayment rate for noncorporate taxpayers. Accordingly, the Virginia rates for the third quarter of 2023 will be 9% for tax underpayments (assessments) and 9% for tax overpayments (refunds). 

    Details about the interest rates for the third quarter of 2023 can be found in Tax Bulletin 23-6

  • 01 Jun 2023 12:29 PM | Anonymous

    Virginia Department of Taxation

    The 2023 Legislative Summary is now available. 

    The Legislative Summary is published by Virginia Tax as a convenient reference guide to state and local tax legislation enacted by the 2023 Session of the General Assembly.

    The Summary includes a general description of enacted legislation affecting:

    • State taxes administered by Virginia Tax, and
    • Local taxes for which Virginia Tax assists with administration, or on which Virginia Tax renders advisory assistance.

    References to chapter numbers are to the corresponding chapters in the Acts of Assembly, which may be viewed at: https://lis.virginia.gov. Effective dates of the legislation vary and are set out in each description.

    In general, legislation affecting taxes administered by other state agencies is not included in the Summary.

    The Summary is intended to provide a synopsis of enacted legislation and is for informational purposes only. The Summary is not a substitute for the actual state law, local ordinances, or tax related regulations. 


  • 25 May 2023 8:32 AM | Anonymous

    Effective July 1, 2023, House Bill 1442 (2023 Acts of Assembly, Chapter 410) requires Virginia Tax to annually publish on its website the current rate of the local transient occupancy tax of each county, city, and town. The tax-assessing officer of each locality must send this information to Virginia Tax as soon as the current rate is available after a request by Virginia Tax, or with at least 30 days’ notice prior to the effective date of any change in the rate.

    Details about the local occupancy tax rates can be found in Tax Bulletin 23-5

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