WASHINGTON, D.C. - Virginia taxpayers have something to look forward to as tax rebates begin hitting bank accounts.
Eligible taxpayers who filed their state taxes by July 1 will receive their rebates by Oct. 15 and can expect to see the funds by the end of the month. Those who opted for direct deposit for their tax refund will receive their rebate the same way.
Rebates based on 2024 tax liabilities
What we know:
Gov. Glenn Youngkin announced that individual filers could receive up to $200, while joint filers are eligible for up to $400. Rebates are available for those with a tax liability in 2024 and who filed their taxes by Nov. 3, 2025.
Virginians received a similar rebate in 2023, providing some financial relief to taxpayers. All other eligible taxpayers will receive their rebate via paper check in the mail.
What they're saying:
"Virginia’s strong job growth, bolstered by business investment commitments of $140 billion, has driven a total of $10 billion in surplus revenue and enabled a record $9 billion in tax relief," said Gov. Youngkin. "This fall's tax rebate reflects a simple truth: it’s your money, not the government’s."
Ensuring funds are returned to taxpayers
Secretary of Finance Stephen Cummings emphasized the importance of returning funds to taxpayers while still providing record funding for key priorities.
"It is our shared responsibility to ensure that the vast majority of these funds are returned to Virginians," said Cummings. "That’s exactly what we’re doing."
If an eligible taxpayer owes money to Virginia Tax or another state or local agency, their rebate will be used to satisfy that debt. If the rebate isn't enough, they will receive a letter explaining how the rebate was used and any remaining debt.
The Source: The information above was provided by Virginia Gov. Glenn Youngkin's press office.