News from Representative Luria

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Dear Friend,

Due to the economic hardships caused by COVID-19, the federal government and the Commonwealth of Virginia have made changes to their tax payment deadlines. Below are summaries of the changes and how they will affect your stimulus payment. Please read this information carefully, as the deadlines for Virginia and federal taxes are NOT the same.


Federal Taxes


The Treasury Department and the Internal Revenue Service are delaying the federal income tax filing and payment deadline from April 15 to July 15. All taxpayers are automatically eligible for this extension and will have this additional time to file and make payments without late fees or interest. The IRS has an FAQ about the extension that can be viewed here.

The IRS is also delaying most other tax deadlines due after April 1 until July 15. This includes extending the deadline to make 2019 contributions to your retirement or health savings account, and the deadline for paying quarterly estimated taxes.


Virginia Taxes


The filing deadline for Virginia income taxes remains May 1 and the payment deadline has been delayed to June 1. Although taxpayers can now make payments through June 1, interest will still accrue on payments made after May 1. As a result, taxpayers who are able to pay by the original May 1 due date are encouraged to do so. Additionally, Virginia offers taxpayers an automatic tax filing extension for six months, but you must still pay an extension payment by May 1 to avoid any interest or penalties. For more information on the tax filing extension, please see here.

To view the latest updates from the Virginia Department of Taxation, please see here. For information on tax penalties and interest, click here


How Will the New Deadlines Affect My Stimulus Payment?


If you do not file your taxes before you receive your stimulus payment, the IRS will use information from your 2018 tax return to determine eligibility and your payment amount. If you have not filed your taxes for 2019 but would like the IRS to use information from that year for determining the size of your payment, you should file your taxes as soon as possible, regardless of the filing deadline. For more information about stimulus payments, please see here.

Please know that during this trying time, my team and I stand ready to serve our community. For helpful resources to help you and your family navigate through this public health emergency, please see here. If you have any questions, feel free to reach out to our offices via the numbers below.

Sincerely, 

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