Electronic Funds Transfer

Electronic Funds Transfer (EFT) involves the transfer of funds from your bank account to the State's bank account. EFT not only saves check writing and mailing costs, but also ensures that your payment is made without the worry of a check being lost in the mail.

Over the last several years, many taxpayers have voluntarily chosen this efficient and cost effective method for making their tax payments. The Department of Taxation requires some companies to file and pay electronically. Information on these requirements is included below.

• The 2012 -2014 Appropriations Act requires the Virginia Department of Taxation to collect all Sales and Use tax return payments electronically. Dealer’s who file on a monthly basis are required to file and pay electronically beginning with the July 2012 return, due August 20, 2012. Dealer’s who file on a quarterly basis will be required to file and pay electronically beginning with the July- September 2013 return, due October 20, 2013.
• Semi-weekly withholding filers are required to submit all returns and payments electronically.
• Employers who furnish 50 or more withholding statements, Form W-2, during the calendar year are required to file their annual report electronically using Web Upload. W-2 information is due by February 28. The Department no longer accepts W-2’s filed on CD, diskette or tape.
• All persons who act on behalf of 100 or more taxpayers to remit individual income tax withholding payments are required to remit such withholding to the Virginia Department of Taxation using automated clearinghouse credit transactions.

A variety of free filing options exist: eForms, Business iFile, or Web Upload. Return and payment information is required to be submitted using these systems or by making ACH credit payments for all required payments and returns. These systems are all safe, secure and available 24 hours a day, seven days a week. For further information you may download the Electronic Payment Guide.

If you are unable to make the necessary changes to file and pay electronically, request a waiver. Please fax or mail the following information to the Department:

• Provide your business name, Virginia Tax account number, contact person, phone number, email address(optional), mailing address, the reason for the request, and the date when you can file your taxes electronically

Fax your request to (804) 367-3015, or mail to the Virginia Department of Taxation, Waiver Request, PO Box 27423, Richmond, VA 23261.

For additional information about using Electronic Funds Transfer (EFT), click on the link included below.

• Download a copy of the Electronic Payment Guide

If you have any additional questions about EFT, contact the Office of Customer Services at (804) 367-8037 or E-mail us your questions.

Last Updated 8/14/2012 17:1