Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 23. Taxation
Agency 10. Department of Taxation
Chapter 112. Declaration of Estimated Income Tax by Individuals
12/1/2022

23VAC10-112-25. Declarations of estimated tax; return as declaration or payment.

If on or before March 1 of the succeeding taxable year an individual files his return for the taxable year for which the declaration is required, and pays the full amount of the tax shown to be due on the return:

1. Such return shall be considered as his declaration if no declaration was required to be filed during the taxable year, but is otherwise required to be filed on or before January 15.

2. Such return and payment shall be considered as the last installment of estimated tax which would otherwise have been payable on or before January 15.

Filing a return on or before March 1 of the succeeding taxable year or filing a declaration or payment of the last installment on January 15 will not relieve a taxpayer of liability for the addition to tax for the underpayment of any of the installments of estimated tax that were due on May 1, June 15 or September 15 of the taxable year.

EXAMPLE 1: Taxpayer A discovers on September 15, 1988, that his expected Virginia estimated tax for calendar year 1988 will exceed $150. Taxpayer is required to file his declaration by January 15, 1989, but by filing his 1988 income tax return on or before March 1, 1989, and paying in full his tax liability shown on the return, Taxpayer is deemed to have timely filed the declaration required by 23VAC10-112-23 A 3.

EXAMPLE 2: Taxpayer A makes the same discovery but on September 1, 1988. He must file his declaration on or before September 15, 1988. His second installment would be due January 15, 1989. (See 23VAC10-112-30 A 3). However, because he files his 1988 return on February 28, 1989, accompanied by payment in full of his 1988 liability, he is deemed to have timely made the filing/payment of his second installment.

Statutory Authority

§§ 58.1-203 and 58.1-490 of the Code of Virginia.

Historical Notes

Derived from VR630-2-490.2 § 7; adopted September 19, 1984, eff. January 1, 1985; amended, eff. February 1, 1989, but retroactive in effect for taxable years beginning on and after January 1, 1987.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.