Virginia State Tax Deadline Changes due to Coronavirus

By Peoples Tax | April 16, 2020

While the federal tax filing and payment deadlines have been delayed to July 15, 2020 due to the coronavirus, state tax deadlines are still set by the state. Some have moved with the federal dates, but some have not. It’s important that everyone check with their state guidelines to see if and when the deadlines have moved to avoid paying fines and interest accruing on your state taxes.

Here in Virginia, the state filing deadline has not changed and is still Friday May 1, 2020 for individuals and April 15 for most corporations

Additional time to pay your Virginia state income tax

Individual and corporate income tax payments are now due June 1, 2020.

  • This applies to payments originally due between April 1 and June 1, 2020.
    • Individual and corporate taxable year (TY) 2019 tax due payments
    • Individual and corporate extension payments for TY 2019
    • First estimated income tax payments for TY 2020
  • No penalties, interest, or addition to tax will be charged if payments are made by June 1, 2020. 

Virginia law provides an automatic 6-month extension to file your income tax (7 months for certain corporations). No application is required. If you file during the extension period, make sure you still pay any taxes owed by June 1, 2020 to avoid penalties.

A few words about payment extensions and penalties

  • The Virginia state automatic extension is 6 months for individuals and 7 months for most corporations.
  • Penalties will be waived on final payments made by June 1, provided at least 90% of the tax is paid.
  • Penalties will also be waived for estimated payments otherwise due in April or May that are paid in full by June 1.
  • If the required payment is not submitted by June 1, the penalty waiver will not apply and penalties will accrue from the original payment due date.
  • Note: Taxpayers using the filing extension are required to pay at least 90% of the final tax liability by June 1 or they will incur penalties. If a taxpayer pays at least 90% of their tax liability by June 1, 2020, no penalties are imposed so long as they file their return and pay the remaining amount of their tax liability by November 1, 2020.
  • Taxpayers who do not pay by June 1, but make full payment with their return by the extended due date, the lower 2% extension penalty of tax due per month (up to 12% total) applies instead of the higher 6% late payment penalty.

If you need assistance filing your state and/or federal tax returns…

Peoples Tax is committed to providing you with top-quality service, backed by our Triple Guarantee. We are offering a secure Virtual Tax ProSM Service through our website and a Drop-Off Tax Service at either of our central Virginia locations in order to help accommodate our clients in a safe, healthy way. We will continue to communicate with you by email and phone. If you have questions, please call us at (804) 204-1040, email us, or visit our website for more information.

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