(Matt Demlein, WRVA)

Amid Controversies, A Tax Compromise

Taxpayers Could Get Check In Fall

February 08, 2019 - 2:55 pm
Categories: 

Richmond, Va. (AP) — Lawmakers have reached an agreement that would return $976 million to Virginia's taxpayers.

The agreement, endorsed by Gov. Ralph Northam, could allow the state to start processing more than a half-million tax returns already filed this season.

It adopts a plan the senate approved last week to give taxpayers $420 million in refunds in the fall to compensate for higher state taxes on 2018 income. It's an unintended consequence of the Tax Cuts and Jobs Act signed by President Donald Trump.

It would also raise the standard deduction and protect Virginia taxpayers from some provisions of the new federal tax law.

 

(COPYRIGHT 2019 THE ASSOCIATED PRESS. ALL RIGHTS RESERVED. THIS MATERIAL MAY NOT BE PUBLISHED, BROADCAST, REWRITTEN OR REDISTRIBUTED.)

Tags: