Virginia Standard Deduction Increased for Individual Taxpayers
Filing season in Virginia will begin January 21, 2020, and taxpayers should note a significant change regarding the Virginia standard deduction before they file their 2019 returns.
On December 18, 2019, the Virginia Department of Taxation announced that “due to changes in federal tax laws,” the Virginia standard deduction is increased to $4,500 for taxpayers who file single and married taxpayers who file separately. Married taxpayers filing a joint return will see their standard deduction increased to $9,000.
If you have tax questions, contact Frost Law today at 410-497-5947.