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.
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