For all those individuals and businesses impacted by Hurricane Sandy, Governor McDonnell and Tax Commissioner Craig M. Burns announced that Virginia will provide a penalty waiver for any late returns filed, or payments made by affected taxpayers between October 29 and November 9, 2012.
This will apply to individual and fiduciary income tax returns; withholdings returns; forest products tax returns; corn tax returns; cotton tax returns; soybean tax returns; and other tax returns. Additional penalties may be waived as well.
To take advantage of this waiver, you will need to notify the Department of Taxation that you were affected by Hurricane Sandy by writing "Hurricane Sandy" at the top of your return. The Department will then abate any late-filing or late-payment penalties that would otherwise apply