News & Updates

On April 6, 2026, Virginia Gov. Abigail Spanberger signed legislation into law to establish Inactive and Emeritus CPA license statuses.

On March 31, 2026, the VSCPA supported H.R. 7026, the Fiscal State of the Nation Act, a critical step toward ensuring that Congress has access to fair, balanced, and reliable information when making long-term fiscal decisions on behalf of the American people.

The Virginia General Assembly adjourned this year on March 14, 2026, notably without passing a state budget. Here are the areas the VSCPA worked on and watched closely this year.

The VSCPA submitted comments to the Virginia Board of Accountancy (VBOA) on its proposed regulatory changes related to firm requirements and principal place of business.

On March 12, the VSCPA submitted comments to the Federal Accounting Standards Advisory Board (FASAB) on the exposure draft of proposed staff implementation guidance 64.1.

On Feb. 26, 2026, the VSCPA submitted comments on the U.S. Department of Education’s Notice of Proposed Rulemaking, “Reimagining and Improving Student Education.”

During the 2026 General Assembly Session, the 2026 Amendments to the 2025 Appropriation Act replaced Virginia’s rolling conformity to the IRC with a fixed conformity date of Dec. 31, 2025.

Crossover was Tuesday, Feb. 17, and it has reshaped the landscape at the General Assembly. While tax conformity and PTET are expected to be resolved in the caboose budget, several other tax policy issues remain active as bills move to the opposite chamber.

For this year, it appears tax conformity will be resolved through committee amendments to the caboose budget bills (HB 29 and SB 29) rather than standalone legislation.

Here's where things stand on major tax proposals before the Virginia General Assembly, as well as the bill to introduce a CPA, Emeritus licensure status.

As the General Assembly session moves deeper into February and crossover approaches, the gravitational pull of the budget is becoming impossible to ignore. Even for bills that don’t directly appropriate funds, fiscal impact is increasingly shaping which proposals advance, pause, or change form.

Legislation to modernize Virginia’s CPA licensure statutes passed a House General Laws subcommittee unanimously Jan. 29, 2026.

After a slow start to the 2026 Virginia General Assembly session, tax conformity legislation is finally gaining momentum.

On Jan. 26, 2026, the VSCPA commented on a white paper issued by the NASBA Private Equity Task Force on Oct. 24, 2025 — Alternative Practice Structures & Private Equity: Considerations and Questions for Boards of Accountancy.

As the 2026 Virginia General Assembly session continues, we're highlighting several tax policy proposals. While these bills are still evolving and may not even pass, members should be aware of key themes that may influence planning and compliance in the future.

The AICPA expressed support in January for bipartisan legislation intended to promote greater national fiscal transparency and released survey data showing that a majority of Americans support such transparency.

With Spanberger taking office, lawmakers reconvene this week to tackle abortion, voting rights, redistricting and a new state budget amid fiscal headwinds.

On Dec. 3, 2025, the VSCPA commented on the draft VBOA policy addressing Inactive, Emeritus, and Expired/Suspended/Revoked License Status.

The VSCPA, along with the American Institute of CPAs (AICPA) and other state CPA societies, strongly opposes any proposal that fails to recognize accounting as a professional degree program.

The federal budget bill (HR 1) will significantly reshape both national and Virginia tax policy in the coming years. VSCPA will advocate for CPAs’ and taxpayers’ interests during 2026 Virginia General Assembly session.