It is The federal standard deduction doubled, which caused a lot of tax-

payers to use the standard deduction rather than itemized deductions. Virginia law says if you use the federal standard deduction you have to use the Virginia standard deduction. Many taxpayers lost a lot of deductions (medical, mortgage interest, SALT, charity) as a result and their state tax went up as a result. I had several clients whose itemized deductions were just below the federal standard deduction, so I checked them and they came out ahead by itemizing their deductions and paying a smidge more federal tax and a lot less state tax. I hope most professional tax preparers considered that, but I bet the folks at H&R Block, for example (their preparers are NOT CPAs and might not be as versed in tax law to understand what happened), never considered it and their clients paid more than they should have.
[Post edited by Hokie CPA at 10/15/2019 11:51AM]

In response to this post by ArdbegHokie

Posted: 10/15/2019 at 10:16AM

VA tax rebate checks supposed to be mailed out tomorrow...what will... -- Major Kong 10/14/2019 11:58PM

$20 cash split and rest to debt payment ** -- One4VT 10/15/2019 09:36AM

Got ours a few weeks ago. It went into our joint checking account -- Hokie CPA 10/15/2019 08:15AM

Got our a few weeks back too ** -- HokieDevil 10/15/2019 09:01AM

sheep ** -- FfxStationHokie 10/15/2019 07:44AM

You're heading to Cleveland? ** -- EDGEMAN 10/15/2019 07:40AM

Is this a refund from a budget surplus? -- PhotoHokieNC 10/15/2019 07:27AM

Surplus for this year, but is there a state debt they could pay down? -- Late 80s Hokie 10/15/2019 07:58AM

I don't think there is a state debt. The previous admin's treasurer ironed -- PhotoHokieNC 10/15/2019 08:02AM

Virginia's budget has to be balanced by law, I believe. So no debt to pay -- Hokie CPA 10/15/2019 08:18AM

^^What he said. It has to be balanced. ** -- hoosnowahokie 10/15/2019 08:52AM

Notice said it's in repsonse to the federal Tax Cuts and Jobs Act. (link) -- ArdbegHokie 10/15/2019 07:53AM

It is The federal standard deduction doubled, which caused a lot of tax- -- Hokie CPA 10/15/2019 10:16AM

We got ours a couple weeks ago ** -- Burke Hokie 10/15/2019 01:28AM

Ours came in last week. Guess they are going out in batches. ** -- ArdbegHokie 10/15/2019 07:11AM

Mine came in last week too ** -- EDGEMAN 10/15/2019 07:16AM

Nice to see $$$ flow in the other direction on occasion ** -- Tuckahokie 10/15/2019 06:55AM

I wonder if they'll count this as 2019 "income"... -- MP4VT2004 10/15/2019 12:16PM

It is The federal standard deduction doubled, which caused a lot of tax-

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