Virginia Tax Amnesty Begins October 7, 2009: GetSquareVA!

Virginia Governor announces amnesty period for delinquent tax payments.

On September 28, 2009, Governor Timothy M. Kaine helped launch Get Square VA, a program administered by the Virginia Department of Taxation offering amnesty to delinquent taxpayers who pay their back taxes between October 7, 2009 and December 5, 2009. GetSquareVA Campaign website.Benefits of Amnesty: No Penalties and Half of Normal Interest Charges

Most delinquent taxpayers, business or individual, may pay back taxes to the state of Virginia during this limited window with no penalties and half the normal interest charges. The Commonwealth aims to collect $48 million during the amnesty period, and funds collected will go into the general fund to support education, health, and public safety programs.

Brief OverviewGet Square VA is open to most individuals, corporations, estates, trusts and partnerships that have failed to pay taxes. To participate in Get Square VA, the following steps must be taken between Oct. 7, 2009 and Dec. 5, 2009:

  1. If the taxpayer has delinquent returns - file required tax returns along with supporting documentation no later than Dec. 5, 2009 and pay the full amount of the tax and one half of the interest by the end of the period, or within 30 days of the date of any related assessment, whichever is later;
  2. If the taxpayer has outstanding tax bills - remit payment for taxes due along with half the interest amount no later than Dec. 5, 2009;
  3. File or pay by mail, postmarked no later than Dec. 5, 2009, or submit filings or payments online at http://www.getsquareva.com/ by midnight on Dec. 5, 2009.

Exposure for Not Participating: Full Interest + Additional 20% Penalty for Late Taxes

If delinquent taxpayers do not pay their tax bill by December 5, 2009, they will be charged full interest and an additional 20 percent penalty for late taxes.

The Department of Taxation is sending 550,000 notices to households and businesses with outstanding tax bills. The notices will consolidate what is owed and the potential savings through the amnesty program. The average delinquent tax bill in Virginia is $2,315.

For more details, see the Tax Commissioner's Tax Amnesty Guidelines.

If you have any questions regarding the Amnesty program or would like assistance, please contact me at leveragesalt@earthlink.net.

This blog

Brian Strahle is the owner of LEVERAGE SALT, LLC where he provides state and local tax technical services to accounting firms, law firms and tax research organizations across the United States.  He also writes a weekly column in Tax Analysts State Tax Notes entitled, "The SALT Effect."  For more info, visit his website: www.leveragestateandlocaltax.com

You can reach Brian at strahle@leveragesalt.com.

Connect with Brian on LinkedIn. Follow Brian on Twitter. Join the Leverage | SALT LinkedIn Group, connect and contribute with your colleagues!  

Because state and local taxes are deceptively simple and endlessly complicated.

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