Tax News

December 29, 2003

VA Tax Amnesty Results Released

Governor Mark R. Warner who signed a legislation authorizing an amnesty program (first in 13 years for the Commonwealth of VA) was impressed by the number of people who participated in the program.  Nearly 100,000 people participated netting the tax amnesty to equal $98.3 million.  The initial goal of the program was half of this amount; $48.5 million.  The results equal to about one in four people who were eligible participated.

September 23, 2003

Tax Relief for Filers Affected by Hurricane Isabel

Tax Commissioner Kenneth, W. Thorson announced a grant relief for individuals and corporate taxpayers in disaster declared counties and cities because of Hurricane Isabel.

September 1, 2003

VA Tax Amnesty Window Opens

The tax amnesty that is designed to provide incentives to individual taxpayers, and businesses who have fallen behind on their state taxes will kick off on September 2, 2003, and will run through November 3, 2003.  This program is expected to generate $48 million in revenue compared to the last time such a program was used in 1990 to total $32 million.

March 3, 2003

VA Taxpayers Receive Refunds Faster With Electronic Filing

Kenneth W. Thorson VA's Tax Commissioner said in a press release today: "Taxpayers who file electronically routinely receive their refunds in as little as 10 days. Refund processing times for error free paper returns can be as long as 28 days during our peak periods."  Thus far, more than 30% more taxpayers are filing their income tax returns electronically.  Electronic filing has increased over 15% from last year, and account for almost 75% of 507,334 of all returns processed.  E-file returns totaled 415,185, up 46% from last year.

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