Tax Type
Corporation Income Tax
Description
Statute of limitations for refund
Topic
Payment and Refund
Statute of Limitations
Date Issued
08-29-1990
August 29, 1990
Dear ****
The department has received payment from your client for the assessments made on the 1981, 1982 and 1983 Virginia corporation income tax returns. This letter is to inform you of the requirements under Virginia law for securing a refund should your client receive a favorable ruling from the U. S. Claims Court.
A final determination must be made as to any change or correction in the liability of the taxpayer for the federal tax upon which the Virginia tax is based. A final determination includes a decision by the U. S. Claims Court which has become final, or the date the court approves a voluntary agreement stipulating disposition of the case. See VR §630-1-1823 (copy enclosed).
Once a final determination of the taxpayer's federal tax liability is made, the taxpayer has 60 days to file an amended Virginia return claiming a refund. In this case, since the refund claim would be due to a change in federal taxable income, the taxpayer must furnish with the amended Virginia return an appropriate notice that the change has been accepted by the Internal Revenue Service.
Sincerely,
W. H. Forst
Tax Commissioner
Rulings of the Tax Commissioner