News & Updates

In November of 2025, Oak Hill, a 1,200-acre property housing the Loudoun home of President James Monroe, was donated in a part-sale/part-gift to The Conservation Fund. Prior to the transfer, the property was held privately by the same family for seven decades.

Virginia's newly enacted biennial budget brings a mix of permanent tax relief, targeted new deductions, and structural changes that practitioners should build into client planning now.

According to the state revenue outlook report for summer 2026 prepared by Multistate, Virginia's short-term fiscal outlook remains stable.

In fall 2026, the Virginia Department of Taxation will launch updated online services as part of a four-year modernization process.

Each year, the Virginia Department of Taxation publishes a reference guide to state and local tax legislation enacted by the previous session of the Virginia General Assembly.

Tax preparers: Share your feedback on the 2025 tax filing season with the Virginia Department of Taxation so they can improve the electronic filing experience.

For almost 25 years, Virginia taxpayers have been able to purchase Land Preservation Tax Credits at a discount in the marketplace to save on their Virginia income tax liability. However, despite the passage of time, some professionals are still unfamiliar with the program.

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.

New USPS postmark updates could affect the timeliness of tax return filings.

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.

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.

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

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.

This year’s update for tax professionals is available on the Virginia Department of Taxation website. The update includes valuable information about legislative changes to Virginia taxes, reminders, and resources. Running time: 23 minutes

In a recent Virginia Court of Appeals decision, the general requirement that a corporation use blended apportionment factors when the corporation is an owner of a pass-through entity (PTE) was held to be inconsistent with the U.S. Constitution

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.

In the fall of 2025, taxpayers with a tax liability will receive a rebate of up to $200 for individual filers and up to $400 for joint filers. The Virginia Department of Taxation (TAX) is issuing rebates in the order taxpayers filed their returns.