Virginians: File your 2021 tax return by November 1 to get your 2022 Virginia “Stimulus” tax rebate check
If you owed money on your Virginia tax return last year, you’re in luck with Halloween fast approaching. That’s because the Virginia General Assembly recently passed a law giving taxpayers like you a tax “stimulus” refund in 2022 of up to $250 for single filers and up to $500 for joint filers. But you must file your 2021 Virginia tax return by November 1 to get the tax refund. This deadline is only a few days away.
“Stimulus” vouchers 2022
Virginia’s one-time 2022 tax “stimulus” rebate check is part of a recent trend. Other 2022 state stimulus checks are being issued in California, New York, Colorado, Florida and Georgia, to name just a few of the roughly twenty states that have sent or are currently sending stimulus payments. stimulus to their residents.
Why are so many states issuing so-called “state stimulus checks? Well, many states are sitting on budget surpluses in part because of the influx of COVID-19 pandemic relief funds from the federal government.
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However, it’s important to know that these state tax refund checks and state stimulus payments are different from the three rounds of COVID-19 stimulus payments you may have received from the federal government. This federal stimulus program is over. But if you haven’t received your third $1,400 COVID stimulus payment, or your 2021 child tax credit advance payment, there’s still time to file your 2021 federal income tax return and get these funds.
How to Get a Stimulus Check in Virginia
Not all Virginia taxpayers can get the 2022 tax refund. If you had tax payable on your 2021 Virginia tax return, you will get a tax refund of up to $250 if you are single and a tax refund of up to $500 if married and filed jointly.
Virginia has a rebate finder that can help you determine if you are eligible for the 2022 Virginia tax rebate.
Additionally, you must file your 2021 Virginia tax return by November 1, 2022.
When will Virginia get 2022 stimulus checks?
Virginia sends refunds in the order in which it received or receives your tax return. If you filed your Virginia tax return before September 5 and are eligible for the 2022 Virginia Stimulus Tax refund, your refund should be sent by October 17. You should therefore receive it before October 31st.
Some taxpayers will receive a check in the mail and others will receive the 2022 Virginia tax rebate by direct deposit to their bank account. If you have moved since last year, the check may have been forwarded to your new address, and if Virginia does not have your banking information on file, you will receive a paper check in the mail.
But either way, you must file your 2021 Virginia tax return by November 1, 2022 to receive the refund.
Do you have to pay taxes on the 2022 Virginia tax refund?
There’s good tax news and bad with Virginia’s one-time 2022 “stimulus” tax refund payment. The good news is that if you took the standard deduction on your 2021 tax return, you won’t should not be taxed on the amount of your one-time 2022 Virginia tax “stimulus” refund.
However, if you itemized your deductions in the 2021 tax year, you may need to report the refund amount on your federal tax return. You will receive a Form 1099G, which is the same one you receive when you receive a Virginia tax refund.