Virginia Tax Department Publishes Income Tax Bulletin on Late Filing Penalty Waiver for Pass-Through Entities

The Virginia Department of Taxation Oct. 3 published an individual income tax bulletin regarding the Pass-Through Entity Tax (PTET) filing deadline. The department is granting a waiver of the $100 late filing penalty applicable to a late-filed PTET return if the Pass-Through Entities (PTEs) comply with certain requirements. The requirements are that the PTE: 1) paid the full amount of PTET owed on their original April 17 due date for calendar year filers; and 2) will file its PTET return using the department’s free online filing option on or before Feb. 1, 2024. This waiver applies only to PTEs with ...