Virginia Tax has published a revision of its eForms W-2 – 1099 Guide, which filers should utilize in order to ensure accurate and complete online submissions. The Business iFile system allows the use of eForms, which is a free, secure online service that allows employers and payers to electronically file forms W-2, 1099-R, and 1099-MISC directly with Virginia Tax.
There are four updates to this guide and to the use of eForms that should be noted:
- There is additional information regarding the authentication requirements and assistance with login issues. Note: After six (6) incorrect login attempts, filers will be locked out for 24 hours and will not be able to submit returns.
- For purposes of filing, the “total amount of withholding tax paid” is now the sum of all payments made in the taxable year excluding penalty or interest paid. Previously, it was the sum of payments on form VA-5 and/or VA-15, inclusive of penalty and interest.
- Virginia Tax has slightly altered the user interface of Business iFile to make it more user-friendly.
- Business information should now automatically populate if using online business accounts.
About the Author
Tom Hospod is a member of the Tax Research Team for the Direct Tax division at Sovos Compliance, where his main areas of focus are Tax Withholding and Automatic Exchange of Information (AEOI). Prior to Sovos, Tom worked as a legislative aide in the Massachusetts House of Representatives. He also has experience in securities law—focusing on broker-dealer disputes and representing clients in FINRA arbitration. Tom is a member of the Massachusetts Bar, earned his B.A. from Boston College and his J.D. from the University of Miami.More Content by Tom Hospod