58.1-1620 - Refunds and deficiency payments; penalty for deficiency.
§ 58.1-1620. Refunds and deficiency payments; penalty for deficiency.
As soon as practicable after the return is filed, the Department shallexamine it and ascertain the proper amount of the tax due as shown by thereturn. If the amount paid is greater than the amount due, as shown by thereturn, the excess shall be refunded to the taxpayer, or credited on anydeficiency previously due by the taxpayer, under such rules and regulationsas the Department shall adopt and promulgate. All refunds made under thissection, or under any other section of this chapter, shall be paid out of thespecial funds created by §§ 58.1-1609 and 58.1-1610. If the amount paid isless than the amount due, as shown by the return, the Department shallimmediately notify the taxpayer of such deficiency and shall add thereto suchpenalty and interest as required by § 58.1-1619.
(Code 1950, § 58-838.13; 1984, c. 675.)