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lmfariss
New Member

If, the Commonwealth of Virginia just changed the tax rates for 2018. As I have already filed, will turbo provide the new forms to refile?

 
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MichaelMc
New Member

If, the Commonwealth of Virginia just changed the tax rates for 2018. As I have already filed, will turbo provide the new forms to refile?

While a rate change had been discussed, I do not believe the Virginia tax rates have changed. According to the best information we have received, the Governor of Virginia signed tax conformity legislation on Friday February 15, 2019, bringing Virginia into conformity with the Tax Cuts and Jobs Act of 2017 and increasing the state's standard deduction for the first time since 2005.

The Department of Revenue did not begin processing tax returns until after the Governor signed the changes into law. It is our understanding that all returns that have been submitted will be processed using the new conformity date and standard deduction, so no amended filing should be anticipated.


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3 Replies
lmfariss
New Member

If, the Commonwealth of Virginia just changed the tax rates for 2018. As I have already filed, will turbo provide the new forms to refile?

Using TT I was at a $0 refund.  I normally receive about $220,  Will the new tax rate be applied or do I file an ammendment?
MichaelMc
New Member

If, the Commonwealth of Virginia just changed the tax rates for 2018. As I have already filed, will turbo provide the new forms to refile?

Virginia did not change its tax rate structure. The legislature simply brought the Commonwealth's tax code into conformity with the federal changes (with a few exceptions). As I stated in my original answer, it is not anticipated that most people will need to file and amended return, as the returns were being held to be processed under the updated law. If the conformity changes result in a change in someone's refund or tax due, those changes will be made in processing and you will be notified by the Department of Revenue.
MichaelMc
New Member

If, the Commonwealth of Virginia just changed the tax rates for 2018. As I have already filed, will turbo provide the new forms to refile?

While a rate change had been discussed, I do not believe the Virginia tax rates have changed. According to the best information we have received, the Governor of Virginia signed tax conformity legislation on Friday February 15, 2019, bringing Virginia into conformity with the Tax Cuts and Jobs Act of 2017 and increasing the state's standard deduction for the first time since 2005.

The Department of Revenue did not begin processing tax returns until after the Governor signed the changes into law. It is our understanding that all returns that have been submitted will be processed using the new conformity date and standard deduction, so no amended filing should be anticipated.


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