Comments on: Bill highlight: Colgan’s SB582 – income tax conformity

By: VA tax conformity date rolled to 12/31/07 « VIVIAN J. PAIGE

VA tax conformity date rolled to 12/31/07 « VIVIAN J. PAIGE — Tue, 05 Feb 2008 16:16:11 +0000

[...] by vjp on February 5th, 2008 HB12 was signed by Governor Tim Kaine Monday. This bill, which I mentioned earlier, rolls the VA income tax conformity date forward to 12/31/07. In a press release announcing [...]

By: vjp

vjp — Tue, 15 Jan 2008 16:02:27 +0000

Giving up rights? Hardly. All of the states with an income tax have some level of conformity with Federal tax law. Virginia used to automatically conform until a few years ago, when they decided not to. Then they started this series of annual bills that sets the conformity date. The problem (if you read my earlier comment) is that they always roll the date forward to match but they do so late, which costs Virginia taxpayers money, either because they fail to file amended returns or because they have to pay to have amended returns prepared.

By the way – the IRS doesn’t write the laws. Congress does. So there is not a link to a federal program, as you put it.

By: AvocationAviator

AvocationAviator — Tue, 15 Jan 2008 14:40:58 +0000

I do not understand why you would want to permanently link a Virginia right for governement as guaranteed by the US Consitituion to Federal program (IRS). Can you please explain how it helps the Commonwealth by giving up some of our state’s rights to the fed gov’t?

Thanks for your blog!