Beginning with returns filed for 2019 tax years, Virginia fiduciary returns are no longer required to make payments electronically or request a waiver in order to not pay online. A tax return preparer is still required to electronically file fiduciary returns, however.
Beginning with returns due on or after January 1, 2018, all Virginia fiduciary returns – tax returns filed for estates and trusts – were required to be filed electronically and all tax payments were also required to be paid electronically. This meant for two years those responsible for the filing of VA Form 770, and for payment of any tax due for Form 770, were required to complete those electronically. If a taxpayer was unable to file or pay in this manner, a waiver needed to be requested. This waiver was an annual requirement. Now this is no longer a burden for fiduciaries.
Details can be found on page 3 of the Form 770 instructions: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2019-770-instructions.pdf
or on the Virginia Department of Taxation website, under the filing options section and the return payments section: https://www.tax.virginia.gov/fiduciary-income-tax
If you would like more information regarding filing requirements for Virginia Form 770, please contact us. We are happy to help.
Written by: Erin Kidd, EA
Erin Kidd is the Tax Individual Practice Supervisor at Thompson Greenspon and has nearly a decade of tax experience specializing in individual taxation. Throughout her career, she has focused on simplifying complex tax issues and educating clients to maximize their tax benefits and plan for future events. Erin is responsible for the review of individual Federal and multi-state tax returns, managing the firm’s Military Spouse Remote Preparer Program, preparation of individual tax returns with international taxation and reporting requirements, and assisting with the resolution of client issues with Federal and State Taxing Authorities.
Erin holds a Bachelor’s and Master’s Degree in Business Administration from Morehead State University, is an Enrolled Agent, a federally licensed tax preparer who has unlimited rights to practice before the IRS, and an Accredited Financial Counselor ®. She has been recognized by the Garrison Commands of West Point, NY and Fort Leavenworth, KS for her contributions to the military community for her work with the installations’ Volunteer Income Tax Assistance Centers.
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