Form 760-PFF: Virginia Payment Coupon for Farmers, Fisherman and Merchant Seamen

Form 760-PFF, also known as the Payment Coupon for Farmers, Fishermen and Merchant Seamen, is a specific Virginia tax form used to submit estimated tax payments. It's designed for individuals who qualify under these categories and earn income from self-employment in these fields.

What is the Purpose of Form 760-PFF?

Since income from farming, fishing, and merchant seaman activities can be seasonal, the Virginia tax code allows for a different estimated tax payment schedule compared to traditional employment. Form 760-PFF facilitates these estimated tax payments for qualifying individuals.

Who Should Use Form 760-PFF?

Farmers: Individuals deriving income primarily from self-employed agricultural activities.

Fishermen: Those earning income from self-employed fishing activities.

Merchant Seamen: Individuals employed on commercial vessels and reporting income as self-employed.

Important Note:

This form is only for estimated tax payments, extensions of time to file, or other amounts due when filing a return. If you file using Virginia Form 760, 760PY, or 763 (individual income tax returns), and are not a farmer, fisherman, or merchant seaman, use voucher 760PMT for payments.

How to Use Form 760-PFF:

Step 1: Download the Form: You can find the latest version of Form 760-PFF attached below.

Step 2: Fill Out the Form: The form is relatively simple and requires basic information like your name, address, social security number, and the amount of your payment.

Step 3: Detach and Submit: Detach the payment coupon (Form 760-PFF) from the rest of the form.

Step 4: Include Payment: Attach your check or money order made payable to your local Treasurer.

Step 5: Mail it In: Mail the completed coupon and your payment to the address listed on the form, which typically corresponds to your locality's Commissioner of the Revenue.

Who qualifies for using Form 760-PFF?

This form is exclusive for Virginia's farmers, fishermen, and merchant seamen who file estimated tax payments.

What are the deadlines for submitting Form 760-PFF?

The general due date for estimated tax payments in Virginia is May 1st. However, qualifying farmers, fishermen, and merchant seamen have an extended deadline of March 1st to avoid underpayment penalties. If the due date falls on a weekend or holiday, the deadline shifts to the next business day.

What happens if I miss the deadline for submitting Form 760-PFF?

Missing the deadline can result in penalties and interest charges on any unpaid taxes. It's crucial to submit your estimated tax payments or file for an extension on time.

Can I submit my payment electronically?

Yes, Virginia offers various electronic payment options for estimated taxes. You can explore these options on the Virginia Department of Taxation website

Where can I find Form 760-PFF?

You can download the latest version of Form 760-PFF attached below.