Bulletin Number
VTB 81-5
Tax Type
Declaration of Estimated Income Tax by Individuals
Description
Change in Estimated Income Tax Reporting Requirements
Topic
Reports
Date Issued
05-13-1981
DATE: May 13, 1981
SUBJECT: Change in Estimated Income Tax Reporting Requirements
The 1981 General Assembly passed Senate Bill No. 561 which amended Virginia Code §§58-151.25 and 58-151.26 relating to the filing of estimated income tax reports. This bill is effective July 1, 1981 and eliminates the requirement that:
1. Commissioners of the Revenue file copies of Form 559B (Assessment Sheet) and Form 559C (Recapitulation Sheet) with the department. The final transmittal of these reports to the department will be for the month of June, 1981. Beginning with the report for the month of July, 1981, these forms should be prepared in duplicate; the original of each form should be forwarded to the treasurer and the copy should be retained by the commissioner of the revenue.
2. Treasurers file Form 559H (Report of Uncollected Items of Estimated State Income Tax) and Form 559I (Recapitulation Sheet) with the department. The final transmittal of these reports will be for taxable year 1980. The procedures outlined in Procedures Pamphlet No. 2 should be followed including those relating to the filing of supplemental reports to show unpaid assessments due after June 30, 1981 (fiscal year taxpayers). Once the filing for taxable year 1980 is completed, forms 559H and 559I will be discontinued.
If you have any questions about these changes, please contact the Technical Services Section, Office Services Division, P. O. Box 6-L, Richmond, Virginia 23282.
Tax Bulletins