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Tax Conformity Resource Center

Fixed-date tax conformity

Signed Tax Conformity

Fixed-date income tax conformity is now the law in Virginia:

  • On Feb. 27, 2023, Gov. Glenn Youngkin signed emergency legislation HB 1595 / SB 882 to advance Virginia's date of conformity with the Internal Revenue Code to Dec. 31, 2022. The emergency clause made the legislative immediately law.
  • This year's conformity bill had no new exceptions. Find the full list of exceptions in Virginia Tax Bulletin 23-1 or the bill's full legislative text.

Rolling income tax conformity

Signed Tax Conformity

Our push to make rolling income tax conformity is a reality! 

  • The House and Senate finished reconciling their rolling conformity bills (HB 2193 / SB 1405), which were agreed upon on Feb. 25 and sent to Gov. Glenn Youngkin.

  • The final legislation allows automatic conformity for anything qualifying as an extender, limits automatic conformity of new federal tax law to amendments with less than $15 million impact threshold, and caps automatic conformity to $75 million. For any provisions exceeding the $15 million threshold and/or beyond the $75 million cap, the General Assembly would need to pass legislation to conform. 

  • The law was signed April 12, 2023, will take effect July 1, and affect tax years beginning Jan. 1, 2023.

Why we support rolling income tax conformity.

Rolling income tax conformity should be the law in Virginia.

It will eliminate headaches and uncertainty for taxpayers, tax preparers, and the Virginia government. Read our whitepaper, "Rolling Tax Conformity: A Better Option for Virginia," to find out why.

Resources

Rolling tax conformity toolkit

How you can help

We can't get rolling conformity passed without you! Here are ways you can get involved.

  • VoterVoice: Send a letter to your reps.
  • Share conformity info with your colleagues. Download our talking points and give presentations to staff about why rolling conformity is best for CPAs and Virginia!
  • Donate to the PAC: Support legislators who support conformity.
  • Write op/eds for newspapers: Contact us for help!

Contact our team

The VSCPA Advocacy Team is available any time to help VSCPA members navigate legislative and regulatory issues, assist policymakers and legislators with any CPA-related questions, and more. Contact VSCPA Vice President, Advocacy Emily Walker, CAE, at (804) 612-9428.