Virginia provides tax filing and payment relief to taxpayers affected by COVID-19
The Virginia Department of Taxation has extended the due date for payment of Virginia individual and corporate income taxes. The filing deadlines will remain the same, but the due date for payment will not be until June 1, 2020. Note that interest will still accrue notwithstanding the extended due date, so taxpayers who are able to pay by the original due date are advised to do so.
What does CohnReznick think?
You should continue to monitor individual states. As the situation resulting from the COVID-19 outbreak continues to evolve, we expect more states to adjust their due dates. The AICPA is maintaining an updated listed of states that have provided relief. We recommend checking back frequently for updates.
Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.
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