Tax Type
Intangible Personal Property Tax
Description
Request for abatement of late filing penalty
Topic
Penalties and Interest
Date Issued
12-21-1984
December 21, 1984
Re: Capital Not Otherwise Taxed
For the Years 1981, 1982, 1983, and 1984
Request for the abatement of late filing and paying penalties
Dear ********************
This will acknowledge receipt of your check in the amount of for payment of tax and applicable interest and your letter dated November 15, 1984 in regard to interest and penalties assessed for late filing and late payment of tax on capital not otherwise taxed for the above captioned years. Your check has been processed.
The law specifically provides two separate penalties, a penalty for late filing and an additional penalty for late payment. §58-438, Code of Virginia, provides a penalty of 10 percent for late filing and §58-441 provides an additional penalty of 5 percent for late payment based on the total assessment of tax, plus the late filing penalty.
While both penalties and interest were assessed in accordance with applicable laws, due to the extenuating circumstances surrounding your failure to file, we will relieve one-half of the late filing and all of the late paying penalties. In the near future you will received revised assessments which reflect your payment and relief of the penalties as set out above.
The revised assessments are due and payable upon receipt.
Sincerely,
W. H. Forst
State Tax Commissioner
Rulings of the Tax Commissioner