Virginia filers who experienced a tax liability in 2021 are eligible for a one-time tax rebate. The Virginia Department of Taxation announced that qualifying single filers may receive up to $250 and joint filers may receive up to $500 for the Virginia tax rebate. The Department defines a liability as “the amount of tax you owe throughout the year minus any credits like the credit for taxes you paid to another state or the credit for low-income individuals.”
Eligible taxpayers who filed their taxes before July 1 can expect to receive their rebate this fall. Individuals who file later in this year may still be eligible though they must do so by November 1. Virginia taxpayers who received a refund by direct deposit this year will receive a rebate through the same method. To avoid the possibility that a rebate check may be sent to the wrong location, ensure your name, address and Social Security number are current. Visit the Virginia Department of Taxation web page for details about making necessary updates.
Please contact a tax professional at Councilor, Buchanan & Mitchell with any questions.
Councilor, Buchanan & Mitchell (CBM) is a professional services firm delivering tax, accounting and business advisory expertise throughout the Mid-Atlantic region from offices in Bethesda, MD and Washington, DC.