Virginia Tax Bulletin 23-7: Important Information About Virginia's Interest Rates

08 Sep 2023 12:21 PM | Anonymous

Virginia's interest rates will change for the fourth quarter of 2023.The underpayment and overpayment rates for Virginia taxes are 2% higher than the corresponding federal rates. Federal rates for the fourth quarter of 2023 will be 8% for tax underpayments (assessments) and 8% for tax overpayments (refunds) by noncorporate taxpayers. Accordingly, the Virginia rates for the fourth quarter of 2023 will be 10% for tax underpayments (assessments) and 10% for tax overpayments (refunds).

Details about the interest rates for the fourth quarter of 2023 can be found in Tax Bulletin 23-7

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