The Virginia Department of Taxation recently announced a new electronic filing requirement for pass-through entities (PTEs) required to file Form 502 (Pass-through Entity Return of Income and Return of Nonresident Withholding Tax). The requirement goes into effect Jan.1, 2015 and applies to all PTE returns and payments for taxable year 2014 and later.
Please note: The eFile requirement applies to all PTEs required to file Form 502, regardless of whether they owe a balance of tax with their returns.
To help taxpayers file returns and make payments electronically, the department now offers several new PTE eForms on its website:
- eForm 502EZ (Short Return of Income and Return of Nonresident Withholding Tax): A return for eligible taxpayers to file Form 502 and required VK-1 (Owner's Share of Income and Virginia Modifications and Credits) statements. Taxpayers may also make a return payment if they compute an amount due with their return.
- eForm 502W (PTE Withholding Payment): An eForm voucher for PTE taxpayers who need to make an extension payment towards the withholding due for nonresident owners of the PTE.
- eForm 502V (PTE Payment Voucher): An eForm voucher for taxpayers who have filed Form 502 and need to make a return payment.
All eForm options are free, available 24/7 and do not require registration or login credentials.
PTEs may also file and make return payments electronically using commercial eFile software. Check out a description of commercial eFile software, a list of approved software products, information about making payments by direct debit, and more at the PTE eFile page.
PTEs that are unable to file and pay electronically should request a waiver. For additional questions or assistance, please call Customer Services at (804) 367-8037, Monday through Friday, 8:30 a.m. to 5 p.m.