Virginia Virginia Fiduciary and Unified Nonresident Automatic Extension Payment
Extracted from PDF file 2023-virginia-form-770ip.pdf, last modified August 2023
Virginia Fiduciary and Unified Nonresident Automatic Extension Payment2023 FORM 770IP Virginia Fiduciary and Unified Nonresident Automatic Extension Payment Voucher For use when filing Form 770 or Form 765 This form is for use by Fiduciary Taxpayers and Pass-Through Entities filing for Unified Nonresident Taxpayers only. If you are making an individual income tax extension payment, use Form 760IP. Effective for payments made on and after July 1, 2022, Pass-Through Entities must submit all unified nonresident income tax payments electronically if any payment exceeds $1,500 or the sum of all payments is expected to exceed $6,000. This includes estimated, extension, and return payments. Visit our website at www.tax.virginia.gov for information on electronic payment options. Virginia automatically grants all taxpayers a 6-month extension of time to file their fiduciary or unified nonresident tax returns. back. If additional tax is due when you file your return, you may owe penalty and interest charges in addition to the tax. • For calendar year filers, the filing date is automatically extended to November 1. When and Where to File Form 770IP The quickest and most convenient way to make your payment is online at the Department’s website www.tax.virginia.gov using eForms or Web Upload. • You are NOT required to file Form 770IP in order to obtain this automatic extension. • An extension of time to file does NOT extend the amount of time you have to make your payment. • You must pay any tentative tax due by May 1. • Penalties and interest will accrue on all late payments. Purpose of Form 770IP Form 770IP, Automatic Fiduciary and Unified Nonresident Extension Payment, is a payment coupon and worksheet that provides taxpayers who are unable to file their Fiduciary or Unified Nonresident income tax return by May 1 a means of calculating and remitting a payment to avoid penalty and interest. Who Must File Form 770IP Form 770IP is required if BOTH of the following apply to you: 1. You cannot file your fiduciary or unified nonresident income tax return by the due date; and 2. You owe tax (this is determined by completing the Tentative Tax Computation Worksheet on the back of this page). Do not file Form 770IP if you determine that you do NOT owe additional tax. Completing Form 770IP Complete the Tentative Tax Computation Worksheet on the back, then enter the payment amount in the Payment Amount box on Form 770IP. Instructions for the worksheet and the form are on the If you are paying with a paper check or money order, file Form 770IP along with your payment as soon as you realize you owe any additional tax. The 2023 Form 770IP must be postmarked by May 1, 2024 to avoid interest and penalties. For fiscal year filers, file Form 770IP on or before the due date of your return with payment of the balance due to avoid interest and penalties. If the due date falls on a Saturday, Sunday or legal holiday, Form 770IP, with payment, may be filed on the next day that is not a Saturday, Sunday or legal holiday. Be sure to write your FEIN, taxable year and “VA 770IP” on your payment. Send the completed Form 770IP, with payment, to: Department of Taxation P.O. Box 1478 Richmond, VA 23218-1478 Penalty for Failure to Timely File and Pay the Tax Due Virginia law provides for an automatic 6-month filing extension, but you must pay at least 90% of your tax liability by the due date, which is May 1 for calendar year filers. If you file your return within 6 months after the due date but do not meet the 90% payment requirement, the balance of tax due with your return will be subject to an extension penalty of 2% per month, from the due date through the date of filing, to a maximum of 12%. If you file within Detach here and mail with your tentative tax payment. Keep the worksheet with your other tax records. 770IP Automatic Extension Payment 2023 (Doc ID 773) Do not file Form 770IP if no payment is due or if you make this payment electronically. New Filer or Address Has Changed Fiscal Year Filer. Enter Dates Below: Beginning (MM/DD/YY) Ending (MM/DD/YY) 0000000000 7738888 000000 FEIN of Estate or Trust or Unified Nonresident 6201122 Rev. 07/23 Name of Estate or Trust or Unified Nonresident Name and Title of Fiduciary or Unified Nonresident Representative For use by Fiduciary, Pass-Through Entity and Unified Nonresident Taxpayers only Be sure to include payment. Payment Amount Address (Number and Street) of Fiduciary or Unified Nonresident Representative City, State and ZIP Code .00 the extension period but do not pay the full balance of tax due with your return, the balance due will be subject to a late payment penalty of 6% per month from the date of filing through the date of payment, up to a maximum of 30%. The late payment penalty will be assessed in addition to any extension penalty that may apply. If you file your return more than 6 months after the due date, the extension will be void and a late filing penalty of 30% will be applied to the balance of tax due with the return. Tentative Tax Computation Worksheet Instructions You must refer to the income tax return you will file for the taxable year to compute your tentative tax on Line 1 of the Tentative Tax Computation Worksheet. Fiscal Year Filers If your taxable year is for a period other than from January 1 to December 31, check the Fiscal Year Filer box and write the beginning and ending dates of your fiscal year in the spaces provided. Name, Address and FEIN Please clearly print or type your name, address and FEIN for which an automatic extension payment is being made. Compute Your Tentative Tax Transfer the information from Line 4 of the Tentative Tax Computation Worksheet to Form 770IP. Tentative Tax Use the Tentative Tax Worksheet to calculate your tentative tax. Daytime Phone Number Enter your daytime telephone number. Where To Get Forms Most Virginia tax forms are available from our website: www.tax.virginia.gov. Forms can be obtained from the Department of Taxation by calling (804) 367-8031. Tentative Tax Computation Worksheet 1. Total Virginia income tax I (we) expect to owe. 1 2. Payments and credits: (a) Virginia income tax withheld 2(a) (b) Virginia estimated tax payments 2(b) (c) Overpayment credit from previous taxable year 2(c) 3. Total [add Lines 2(a), 2(b) and 2(c)]. 3 4. Balance due (subtract Line 3 from Line 1). Transfer to Form 770IP. 4 Detach here and mail with your tentative tax payment. Keep the worksheet (above) with your other tax records. Form 770IP - Page 2 Tax Preparer’s Name Date Daytime Phone Number Tax Preparer’s Address FEIN or PTIN Firm Name
2023 FORM 770IP, Virginia Fiduciary and Unified Nonresident Automatic Extension Payment Voucher
More about the Virginia Form 770IP Corporate Income Tax Voucher TY 2023
We last updated the Virginia Fiduciary and Unified Nonresident Automatic Extension Payment in January 2024, so this is the latest version of Form 770IP, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form 770IP directly from TaxFormFinder. You can print other Virginia tax forms here.
Other Virginia Corporate Income Tax Forms:
|Form RR 6-2
|RR 6-2 (1601110) Class 6 - Schedule 2 - Machinery, Equipment and Apparatus, Etcetera
|Form 500 Schedule A
|Multistate Corporation Allocation and Apportionment of Income
|Corporate Income Tax Return
|VA Fiduciary Income Tax Return
|500ADJ - Schedule of Adjustments
Virginia usually releases forms for the current tax year between January and April. We last updated Virginia Form 770IP from the Department of Taxation in January 2024.
Form 770IP is a Virginia Corporate Income Tax form. Payment vouchers are provided to accompany checks mailed to pay off tax liabilities, and are used by the revenue department to record the purpose of the check and the SSN/EIN of the taxpayer who sent it. Many states recommend that taxpayers also write their social security number and the purpose of the payment on the check itself, in case the accompanying payment voucher is misplaced or destroyed.
About the Corporate Income Tax
The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.
Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).
Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.
Historical Past-Year Versions of Virginia Form 770IP
We have a total of thirteen past-year versions of Form 770IP in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2023 FORM 770IP, Virginia Fiduciary and Unified Nonresident Automatic Extension Payment Voucher
2022 FORM 770IP, Virginia Fiduciary and Unified Nonresident Automatic Extension Payment Voucher
2021 FORM 770IP, Virginia Fiduciary and Unified Nonresident Automatic Extension Payment Voucher
2020 FORM 770IP, Virginia Fiduciary and Unified Nonresident Automatic Extension Payment Voucher
2019 FORM 770IP, Virginia Fiduciary and Unified Nonresident Automatic Extension Payment Voucher
2018 FORM 770IP, Virginia Fiduciary and Unified Nonresident Automatic Extension Payment Voucher
2017 Form 770IP - Virginia Fiduciary and Unified Nonresident Automatic Extension Payment Voucher
2016 770IP Virginia Fiduciary and Unified Nonresident Extinsion Voucher
770 IP Final 11 30 11.indd
While we do our best to keep our list of Virginia Income Tax Forms up to date and complete, we cannot be held liable for errors or omissions. Is the form on this page out-of-date or not working? Please let us know and we will fix it ASAP.