CCH Tax Day Report
A Virginia Tax Amnesty Program is enacted and will be administered by the Department of Taxation during the 2017-2018 fiscal year for not less than 60 days or for more than 75 days, as determined by the Tax Commissioner. The amnesty program will be open to any taxpayer that is required to file a return or required to pay any tax administered by the Department of Taxation but has failed to do so. Under the program, all civil or criminal penalties assessed and one-half of the interest assessed, resulting from nonpayment, underpayment, nonreporting, or underreporting of tax liabilities, will be waived upon payment of the taxes and interest.
Ch. 433 (S.B. 1438), Laws 2017, effective July 1, 2017