Instructions for Form 760C Underpayment of Virginia Estimated Tax by Individuals, Estates and Trusts - Virginia

Form 760C Underpayment of Virginia Estimated Tax by Individuals, Estates and Trusts - Virginia

This document contains official instructions for Form 760C , Underpayment of Virginia Estimated Tax by Individuals, Estates and Trusts - a form released and collected by the Virginia Department of Taxation. An up-to-date fillable Form 760C is available for download through this link.

FAQ

Q: What is Form 760C?
A: Form 760C is a form used to report underpayment of Virginia estimated tax by individuals, estates, and trusts in Virginia.

Q: Who needs to file Form 760C?
A: Individuals, estates, and trusts in Virginia who have underpaid their estimated tax are required to file Form 760C.

Q: When is Form 760C due?
A: Form 760C is due on or before the 15th day of the fourth month following the close of the taxable year.

Q: How do I complete Form 760C?
A: You must provide your identifying information and calculate the amount of underpayment. You will also need to explain the reason for underpayment.

Q: What happens if I don't file Form 760C?
A: If you fail to file Form 760C or if the form is incomplete or inaccurate, you may be subject to penalties and interest.

Q: What if I need more time to file Form 760C?
A: You can request an extension of time to file Form 760C by filing Form 760IP with the Virginia Department of Taxation.

Q: Are there any exceptions to filing Form 760C?
A: There are certain exceptions to filing Form 760C, such as if the underpayment is less than $150 or if you meet certain safe harbor provisions.