58.1-347 - Penalty for failure to file income tax returns in time.
§ 58.1-347. Penalty for failure to file income tax returns in time.
All individual or fiduciary income tax returns required by law to be filedwith the commissioner of the revenue shall be filed with the commissioner ofthe revenue within the time required by this chapter, unless the time forfiling such returns is extended by the Department. Upon all returns on whichtax is due, filed with or assessed by the commissioner of the revenue afterthe time herein prescribed for the filing of returns, the commissioner of therevenue shall assess a penalty equal to six percent of the amount of taxesassessable thereon if the failure is for not more than one month, with anadditional six percent for each additional month or fraction thereof duringwhich such failure to file continues, not exceeding thirty percent in theaggregate. Such penalty shall be collected in the same manner as is providedby law for the collection of other taxes.
(Code 1950, § 58-151.073; 1971, Ex. Sess., c. 171; 1974, c. 178; 1984, c.675; 1989, cc. 629, 642; 1991, cc. 316, 331.)