Updated Tax Bulletin 19-10: Important Information About Virginia's Interest Rates

11 Dec 2019 2:34 PM | Deleted user

Virginia Interest Rates Remain the Same

Virginia Tax announces that Virginia's interest rates will stay the same for the first quarter of 2020. The underpayment and overpayment rates for Virginia taxes are 2% higher than the corresponding federal rates. Federal rates for the first quarter of 2020 will also remain at 5% for tax underpayments and 5% for tax overpayments by taxpayers other than corporations. Accordingly, the Virginia rates for the first quarter of 2020 will be 7% for tax underpayments (assessments) and 7% for tax overpayments (refunds).

Details about these interest rates can be found in Tax Bulletin 19-10 and in the Laws, Rules, and Decisions section of our website.  

View the Tax Bulletin

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.

©2019, Virginia Society of Tax & Accounting Professionals, formerly The Accountants Society of Virginia, 
is a 501(c)6 non-profit organization.

8100 Three Chopt Rd. Ste 226 | Richmond, VA 23229 | Phone: (800) 927-2731 | asv@virginia-accountants.org

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