Virginia Regulatory Town Hall
Agency
Department of Taxation
 
GDForum ID: 652
Description of Proposed Guidance Document Changes
During the 2020 Session, the Virginia General Assembly enacted House Bill 1417 (2020 Acts of Assembly, Chapter 1030) which provided updated procedures for reporting certain adjustments, including partnership adjustments, that result from federal tax changes and other changes to federal taxable income to the Department of Taxation (“the Department”). This legislation updated Virginia’s law regarding reporting tax adjustments to make it match with new federal procedures set forth in the federal Bipartisan Budget Act of 2015 (“BBA”). In addition, this legislation specified when other Virginia income taxpayers such as individuals, estates, trusts, and corporations must report federal tax changes to the Department. These guidelines are published by the Department of Taxation (“the Department”) to provide guidance to taxpayers regarding the updated procedures for reporting federal tax changes to the Department, as required by the second enactment clause of 2020 House Bill 1417.
 
Guidance Document(s) for this Comment Forum
 
Document ID Document Title Document in Effect Proposed Document
7586 Guidelines for Reporting Federal Tax Adjustments n/a pdf Proposed Document
 
Contact Information
 
Name:
James Savage
        Title:
Senior Tax Policy Analyst
 
Email:
james.savage@tax.virginia.gov
 
Address:
P.O Box 27185
 
City:
Richmond
State:  
VA
Zip:  
23261
 
Phone:
(804)371-2301
Fax:  
()-
The Virginia Register
 

Publication Date: 9/13/2021    Volume: 38  Issue: 2
The public comment period began upon publication and lasted for 30 days. It ended on 10/13/2021.
There were no comments

Planned Effective Date:  10/14/2021 
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