§ 58.1-1620. Refunds and deficiency payments; penalty for deficiency
As soon as practicable after the return is filed, the Department shall examine it and ascertain the proper amount of the tax due as shown by the return. If the amount paid is greater than the amount due, as shown by the return, the excess shall be refunded to the taxpayer, or credited on any deficiency previously due by the taxpayer, under such rules and regulations as the Department shall adopt and promulgate. All refunds made under this section, or under any other section of this chapter, shall be paid out of the special funds created by §§ 58.1-1609 and 58.1-1610. If the amount paid is less than the amount due, as shown by the return, the Department shall immediately notify the taxpayer of such deficiency and shall add thereto such penalty and interest as required by § 58.1-1619.
(Code 1950, § 58-838.13; 1984, c. 675.)
Sections: Previous 58.1-1608 58.1-1609 58.1-1610 58.1-1611 58.1-1612 58.1-1613 58.1-1614 58.1-1615 58.1-1616 58.1-1617 58.1-1618 58.1-1619 58.1-1620 58.1-1621 58.1-1622 NextLast modified: April 16, 2009