RICHMOND, Va. (AP) — Virginians could see their state tax refunds delayed or have to do a lot more work to file their tax returns correctly as state lawmakers remain far apart on tax policy.
Lawmakers rejected legislation Friday to rapidly conform Virginia’s tax code to recent changes in federal tax law. Filling out state tax returns will be much more complicated without such a so-called “conformity” measure.
Lawmakers are split on what to do with a potential multibillion-dollar windfall in state revenues due to recent changes in federal tax law. Republicans want to return the money to taxpayers, but disagree among themselves about how best to do so. Democrats want to keep the money to pad the state’s reserves, give tax credits to low-income families and spend on other areas.
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