File Va. tax returns starting Jan. 27

Virginia individual income tax returns can be filed starting on Monday, Jan. 27. Due to changes in federal tax law, the Virginia standard deduction has increased for tax year 2019. The new rates are $4,500 for one taxpayer and married couples filing separately, and $9,000 for married couples filing jointly.

Tax Commissioner Craig M. Burns was quoted as saying, in a news release, “We want to make sure people know about the Virginia standard deduction change as the numbers are very different from last year’s standard deduction amounts.”  “We also continue to encourage you to file your returns electronically and request a refund, if you have one coming, via direct deposit.”

Benefits to filing a tax return electronically are, according to Burns,:

• A faster processing time as it typically takes four weeks to process a return filed electronically, and eight weeks to process a paper return;

• Likelihood of making common mistakes such as transposing numbers and math errors;

• Confirmation your return was filed; and

Burns went on to say, “Electronic filing meets strict security guidelines to protect your tax return. Mailing a return has a higher risk of theft.”

Taxpayers who end up owing taxes have six payment options: online, directly from bank account; check or money order; and credit or debit card, which incurs an additional fee.