The Commonwealth of Virginia announced new electronic filing requirements, beginning January 1, 2011. The changes reduce the number of employee statements that may be filed on paper and the method by which taxpayers may file.
Legislation effective January 1, 2011 requires employers who furnish 150 or more employee withholding statements for calendar year 2010 to file their W-2 statements electronically. Employers with less than 150 employee W-2s may continue to file these on paper; however, we encourage you to file electronically also. In addition, the Department of Taxation (TAX) will no longer support the Magnetic Media method of filing W-2s for tape as of October 1, 2010, and for CD and diskette as of January 1, 2011.
Contact Vision Payroll if you have any questions on the new requirements.