Virginia Code Title 58.1. Taxation § 58.1-2266. Late filing or payment; civil penalty

A. Any person committing any of the following acts shall be subject to the civil penalty specified in subsections B and C:

B. The amount of the civil penalty for any act described in subdivision A 1 or 2 shall be as follows:

C. The amount of the civil penalty for any act described in subdivision A 3 shall be equal to 10 percent of the tax due or $50, whichever is greater; however, penalties resulting from an audit shall be equal to 10 percent of the tax due. After imposition of the penalty under this subsection, the amount of the tax and the penalty, if not paid within 30 days of receipt of notice of such penalty, shall bear interest at the rate of one percent per month until the tax and penalty are paid.

D. The Commissioner is authorized to reduce or waive any penalties under this section if the violation is due to a reasonable or good cause shown to the satisfaction of the Commissioner.