                                 CODE OF VIRGINIA

REFUNDS AND DEFICIENCY PAYMENTS; PENALTY FOR DEFICIENCY (§ 58.1-1620)

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.

HISTORY: Code 1950, § 58-838.13; 1984, c. 675.