Important Information Regarding 2022 Virginia Income Tax Returns

Virginia’s Conformity to the Internal Revenue Code Advanced to Dec. 31, 2022

Under legislation enacted by the 2023 General Assembly, Virginia’s date of conformity to the Internal Revenue Code will advance from December 31, 2021 to December 31, 2022. Virginia is generally conforming to the Inflation Reduction Act of 2022 (IRA), and the Secure 2.0 provisions of the Consolidated Appropriations Act of 2023 (CAA). Also as a result of this legislation, the Qualified Educator Expenses Deduction and the Hardwood Management Practices Tax Credit (both passed in 2022) are effective immediately and may be claimed by qualifying taxpayers on their tax year 2022 income tax returns.

Tax Bulletin 23-1 provides more information.

View the Tax Bulletin

If you have additional questions, go to www.tax.virginia.gov, or contact us at 804.367.8031 for individual income tax questions and 804.367.8037 for business tax questions.