RICHMOND, Va. (WWBT) - In the midst of COVID-19, it’s easy to forget that it’s still tax season. The Federal Deadline was extended to July 15th, but what about Virginia? It’s still May 1st, this Friday, but you have some breathing room.
The legislature voted last week to change some of the rules regarding the state tax deadline. So, what lawmakers have done here is remove penalties and interest until June 1st, effectively giving you an extra month to file and pay, if you owe.
If you still don’t file by June 1st, you automatically get a six-month extension, but penalties and interest will apply here, so make sure you pay by June 1st to avoid those.
“What this extension of not charging interest for the month of May does is it allows people to not focus on their taxes right now. They can focus on the stay-at-home orders, they can focus on their family, and just be safe. But right before June 1st, they’ll have to dust off their tax records and get ready to file a return, or at least make payments," George Forsythe, the Managing Partner at WellsColeman said.
Certified Public Accountants or (CPA’s) are working remotely to make sure tax returns are ready. If you still haven’t filed yet and are concerned about providing documents to your tax person because of coronavirus, don’t worry. You can e-mail, fax, or even text a picture of your forms to your CPA. So you have some more time, but of course the earlier the better.
Also- if you are providing documents through email and texts please make sure you have the correct email and/or phone number. You still need to be careful with your information and wary of scammers.
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