Starting on Monday, Jan. 27, 2020, you can begin filing your Virginia individual income tax returns. This year, due to changes in federal tax law, the Virginia standard deduction has increased – $4,500 for individuals and married couples filing separately, and $9,000 for married couples filing jointly.
- RICHMOND, Va. – Tax season kicks off in just a matter of days in Virginia. There’s a very important change taxpayers need to know about before preparing their 2019 returns. Starting on Monday, Jan. 27, 2020, you can begin filing your Virginia individual income tax returns.
Are tax returns being delayed in 2020?
Be aware that the IRS is still facing a backlog of unprocessed individual returns, 2020 returns with errors and amended returns that require corrections or special handling. And while refunds typically take around 21 days to process, the IRS says delays could be up to 120 days.
When can I expect my 2020 tax refund?
When to Expect Your Refund Refunds are generally issued within 21 days of when you electronically filed your tax return or 42 days of when you filed paper returns. If it’s been longer, find out why your refund may be delayed or may not be the amount you expected.
Why is my VA state refund taking so long?
A number of things could cause a delay in receiving your Virginia refund, including the following: If the state needs to verify information reported on your return or request additional information. If there are math errors in your return or other adjustments. If you used more than one form type to complete your return.
Why is my 2020 refund still processing?
REASONS TAX RETURN MAY TAKE LONGER TO PROCESS: Is affected by identity theft or fraud. Includes a claim filed for an Earned Income Tax Credit or an Additional Child Tax Credit using 2019 income. Includes a Form 8379, Injured Spouse Allocation, which could take up to 14 weeks to process. Needs further review in general.
Is the IRS behind on refunds 2020?
The Covid pandemic caused a backlog of almost 8 million paper-filed business tax returns at the end of 2020, according to the Treasury Inspector General for Tax Administration. That’s a 3,230% increase relative to the same time in 2019, the watchdog said.
Why is my refund taking so long?
Some tax returns take longer to process than others for many reasons, including when a return: Includes errors, such as incorrect Recovery Rebate Credit. Is incomplete. Needs further review in general.
Are tax refunds taking longer this year?
COVID-19 Processing Delays It’s taking us longer than normal to process mailed correspondence and more than 21 days to issue refunds for certain mailed and e-filed 2020 tax returns that require review. However, it’s possible your tax return may require additional review and take longer.
What day of the week are tax refunds deposited?
IRS Refund Schedule for Direct Deposits and Check Refunds They now issue refunds every business day, Monday through Friday (except holidays). Due to changes in the IRS auditing system, they no longer release a full schedule as they did in previous years.
Has Virginia started processing tax returns?
Although Virginia Tax has started processing returns, the Virginia General Assembly is continuing to make decisions about the state’s conformity to the federal tax code. That means some taxpayers, depending on their situation, may need to file an amended return once those questions are resolved.
How long does it take Virginia to process tax returns?
(WWBT) – Taxpayers in Virginia can begin to file their individual income tax returns. It takes up to four weeks to process an electronically-filed return and up to eight weeks to process a paper return.
What do I do if I haven’t received my state refund?
If the state did issue a refund, but the missing state tax refund hasn’t made its way to you, then you must go through your state tax agency to get it. If you deducted state income tax, your missing state tax refund might be taxable, even if you didn’t receive it.
How long will my refund status say processing?
The IRS says: It should take 21 days to issue a refund once it has been processed. If it has been longer than this, several factors may be holding it up. Before you start to panic, take into consideration the process and what is going on with your paperwork.
What’s the difference between being processed and still processing?
Processed means exactly what it is being processed if it switches to still being processed is completely different. They found something that didnt add up. A mistake or further review for a variety of reasons. You should get a letter but it would be best to call them because it could take.