Tax Type
Estate Tax
Description
Calculation of interest on refunds
Topic
Penalties and Interest
Date Issued
09-15-1987
September 15, 1987
Re: Ruling Request: Estate Tax
Dear ******************
This will reply to your letter of April 23, 1987 requesting payment of interest on a refund of Virginia estate tax paid.
Facts
You indicate that in July 1986 you requested an estate tax filing extension until February 1, 1987 and attached a check for *************. Your subsequent return filed on February 2, 1987 resulted in a refund of the **** authorized February 13, 1987 and paid without interest. The decedent's date of death was November 1, 1985.
Determination
Va. Code §58.1-1833 provides that interest is paid on the overpayment of tax from a date 60 days after the later of the due date for paying the tax or the date the tax was paid. In this case of an estate tax return filed on extension, interest would accrue from a date 60 days after the original due date of the payment of the tax. Accordingly, interest on the refund will be calculated in accordance with this determination letter and paid to the Estate.
Sincerely,
W. H. Forst
Tax Commissioner
Rulings of the Tax Commissioner