Virginia Waives Interest on Income Tax Payments; Virginia Tax Payments Due June 1

Governor Ralph Northam signed into law amendments to the state budget approved at the recent reconvened session of the Virginia General Assembly. The amendments include a waiver of interest on income tax payments, so long as the payment is made on or before June 1, 2020 (the revised tax payment due date).

A recap of the important dates is as follows:

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

• Applies to payments originally due between April 1 and June 1, 2020.

o Individual and corporate taxable year (TY) 2019 tax due payments

o Individual and corporate extension payments for TY 2019

o 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.

For more details, visit https://www.tax.virginia.gov/news/coronavirus-updates

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