Tax refund of up to $400: Deadlines, who qualifies and how to request it
Some Virginia residents can receive a tax refund of $200 or $400. Find out if you are qualified for the amount, and how to go about requesting the refund.
The Virginia General Assembly this year passed a law that gives taxpayers with tax obligations a tax refund of up to $200 or $400.
This was made possible after the state’s governor, Glenn Youngkin, signed a bipartisan state budget that includes $1 billion in tax relief.
Tax refund of up to $400: Deadlines, who qualifies and how to request it
Resident taxpayers have a few days left to file their tax return and be eligible to receive the $200 or $400 refund.
Individual taxpayers with a tax liability last year will receive up to $200 if they filed their return. Meanwhile, couples who filed a joint tax return could be eligible to receive up to $400.
Taxpayers with a tax obligation must file their taxes by November 1 to be eligible for this refund. If you have already filed your 2022 taxes, no action is necessary.
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According to the Virginia Department of Revenue, tax liability is the amount of taxes you owe during the year minus any credits (such as the earned income tax credit or the credit for taxes you paid to another state) and other deductions.
When are tax refunds sent in Virginia?
The payment schedule for the refunds is not yet available, but will be announced later, according to the Virginia Department of Revenue.
As for the payment method, some taxpayers will receive the refund via direct deposit and others will receive a paper check, depending on the information they have shared in their return.
If you received any refund via direct deposit this year, you will likely also receive this refund via direct deposit into the same bank account. The rest of the eligible taxpayers will receive their refund by paper check via postal mail.
If there is any existing debt owed to the Virginia Department of Revenue, refunds will be reduced or withheld to pay them. For more information, visit the Virginia Department of Taxation web portal.