New Virginia Tax Rebate: Are You Eligible? | SK CPAs & Business Advisors, PLLC (2024)

FAQs

Who qualifies for the Virginia tax rebate? ›

The 2023 Virginia General Assembly passed a law giving taxpayers with a tax liability a rebate of up to $200 for individual filers and up to $400 for joint filers. Eligible taxpayers must have filed their 2022 individual income tax return by November 1, 2023 to receive the rebate.

If you received a letter from us about your tax return, don't worry, it doesn't mean you did anything wrong. We're just being extra careful to rule out identity theft and other problems, and need a little help from you to make sure we send the correct refund to the right person. An error occurred.

RICHMOND, VA—This fall, approximately 3.2 million eligible taxpayers will receive one-time tax rebates of up to $250 if they filed individually, and up to $500 if they filed jointly. To be eligible, taxpayers must file by November 1, 2022 and have had a 2021 tax liability.

Check your refund status

Use our Where's my Refund tool or call 804.367.2486 for our automated refund system.

Qualifications For Real Estate Tax Relief:

Minimum Age or Disability: The applicant must be at least 65 years of age or permanently and totally disabled as of December 31, 2023.

Where's my Refund? You can check the status of your Virginia refund 24 hours a day, 7 days a week using our “Where's My Refund?” tool or by calling our automated phone line at 804.367. 2486.

So, what should you look for if you're concerned your refund check isn't real? All U.S. Treasury checks have a watermark that reads “U.S. Treasury” which can be seen on the front and back of the check when held up to light. If you can see “U.S. Treasury” without holding up the check to the light, it may be fraudulent.

Use the IRS Where's My Refund tool or the IRS2Go mobile app to check your refund online. This is the fastest and easiest way to track your refund. The systems are updated once every 24 hours. You can contact the IRS to check on the status of your refund.

According to Virginia Tax, an agency of the Commonwealth of Virginia, the 2022 Virginia General Assembly passed a law earlier this year giving taxpayers with a liability a rebate of up to $250 for individual filers and up to $500 for joint filers.

No new stimulus checks have been announced for Virginia residents in 2024. However, you can still claim the state's Earned Income Tax Credit (EITC) when you file your 2023 tax returns. The fully refundable tax credit is 15% of the federal credit, while the non-refundable tax credit is 20% of the federal credit.

Will I get a tax refund? ›

If you paid more through the year than you owe in tax, you may get a refund. Even if you didn't pay tax, you may still get a refund if you qualify for a refundable credit.

Tax rebates are different from tax refunds, as they are issued at any time during the year and are not related to deductions and credits claimed on a return. Some governments provide incentives in the form of rebates for the purchase of hybrid cars that reduce gasoline consumption.

To find the amount of your Economic Impact Payments, check: Your Online Account: Securely access your IRS online account to view the total amount of your first, second and third Economic Impact Payment amounts under the Tax Records page. IRS Notices : We mailed these notices to the address we have on file.

If there is a pending claim, or multiple claims, we will withhold or reduce your refund by the amount of the debt owed. We will send you the details of the debt, including the agency making the claim, how much of your refund was applied or withheld, and a phone number to call in case you have questions.

Expanded EITC for people who do not have qualifying children

For the first time, the credit is now available to both younger workers and senior citizens. There is no upper age limit for claiming the credit if taxpayers have earned income.

If you or your spouse were born on or before Jan. 1, 1956, you may qualify to claim an age deduction of up to $12,000 each. The age deduction you may claim will depend upon your birth date, filing status, and income.