Important Information Regarding 2021 Virginia Income Tax Returns: Virginia's Conformity to the Internal Revenue Code Advanced to Dec. 31, 2021
Under legislation enacted by the 2022 General Assembly, Virginia’s date of conformity to the Internal Revenue Code will advance from December 31, 2020 to December 31, 2021. This allows Virginia to generally conform to the American Rescue Plan Act of 2021 (ARPA) and provides additional benefits to recipients of certain COVID-19 business assistance programs during Tax Years 2021 and 2019. No changes have been made to the Virginia income tax treatment for recipients of COVID-19 business assistance for Tax Year 2020.
Tax Bulletin 22-1 provides more information and explains the conformity adjustments that may be necessary as a result of this legislation.
If you have additional questions, go to www.tax.virginia.gov
, or contact us at 804.367.8031 for individual income tax questions and 804.367.8037 for business tax questions.