14 Dec 2015 8:22 AM | Anonymous

It's time to file!

Pass-Through Entity Return of Income and Return of Nonresident Withholding Tax (Form 502) is due on Dec. 15, 2015 from: 

  • Fiscal year filers whose taxable year ends on Aug. 31, 2015.
  • Fiscal year filers whose taxable year ends on Feb. 28, 2015 and who are filing under Virginia’s automatic six-month extension. 

Virginia Automatic Extension: Virginia grants an automatic six-month extension from the original due date to file Form 502. However, the extension doesn't allow for extra time to pay any taxes that are owed. Taxpayers should pay any tentative tax due using Form 502W (Pass-Through Entity Withholding Tax Payment) at the time the return is due. Penalty and/or interest may apply if the tentative tax due wasn't paid by the original date the return was due. A penalty may apply to returns filed during the extension period if less than 90 percent of the return's total tax liability was paid by the original due date. 

Reminder: All pass-through entities are required to file the annual income tax return and make all payments electronically.  If the electronic filing requirement causes undue hardship, taxpayers may request a waiver by submitting the Virginia Pass-Through Entity Electronic Filing Waiver Request form. 

For details regarding extensions and penalties or for information on how to file and pay electronically, visit our Pass-Through Entity web page. 

It’s very important that we maintain accurate information regarding your business. Please use our Business iFile to: 

  • Tell us if you close your business or a specific business location
  • Update your account with address or contact changes
  • Add a new tax to your account
  • Let us know you are no longer liable for a specific tax   
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is a 501(c)6 non-profit organization.

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