March 18, 2021
Secretary Aubrey L. Layne Jr., CPA
Office of the Secretary of Finance
Patrick Henry Building
1111 East Broad Street
Richmond, VA 23219
RE: Relief for late payment of taxes amid coronavirus pandemic
Dear Secretary Layne:
The Virginia Society of Certified Public Accountants (VSCPA) Tax Advisory Committee would like to request the Virginia Department of Taxation (TAX) consider providing relief to Virginia taxpayers in light of the continued challenges caused by the coronavirus (COVID-19) pandemic. Yesterday, the Internal Revenue Service (IRS) announced an extension of the filing and payment deadline until May 17, 2021, for individual returns. We respectfully request that Virginia follow suit and offer an extension of the filing and payment deadlines to June 1, 2021, allowing the usual additional time between the federal and state deadlines, to include the waiver of all interest and penalties consistent with the position of the IRS.
The IRS extension is currently limited to individuals and does not apply to estimated tax payments due on April 15, 2021. In concert with the American Institute of CPAs (AICPA) and others, however, we are urging the IRS to reconsider and offer the same deadline extension for estimated tax payments. We believe failure to include estimated tax payments treats the millions of small business owners and other individuals who pay estimated taxes unfairly. Accordingly, we also request that if Virginia offers an extension, it be universally applied to all filing and payments normally due May 1.
The VSCPA is the leading professional association in the Commonwealth dedicated to empowering CPAs to thrive. Founded in 1909, the VSCPA has more than 13,000 members who work in public accounting, industry, government and education. Please feel free to contact me or VSCPA Vice President, Advocacy Emily Walker, CAE, at (804) 612-9428 or [email protected] if we can be of further assistance.
Vivian J. Paige, CPA
2020–2021 Tax Advisory Committee Chair
Virginia Society of CPAs
CC: Deputy Secretary of Finance June Jennings, CPA, Tax Commissioner Craig M. Burns