Best Tax Attorneys in Chesapeake

FAQs

• Where does the Tax Court hold trial sessions closest to Chesapeake, Virginia?

  The United States Tax Court has no permanent courtroom in Chesapeake. Temporary venues are provided in the trial notification.

• Where is the low-income taxpayer clinic that is closest to Chesapeake, Virginia?

  The low-income taxpayer clinic closest to Chesapeake is The Community Tax Law Project located in Richmond, Virginia. You may contact the office at 800-295-0110 and 804-358-5855.

• When should you file your income tax return in Chesapeake?

  Ideally, you need to file your income tax return in Chesapeake after January 1 until May 1 of the same year. If your return's due date falls on a legal holiday or weekend, you may file it the next business day. Chesapeake also adheres to Virginia tax standards, which include automatically extending income tax return filing for six months if you have previously paid at least 90% of your tax by the due date.

• What happens if you file your income tax return in Chesapeake beyond the six-month extension?

  If you file an income tax return in Chesapeake after the extension period ends and it shows an outstanding balance, you face a 30% late filing penalty. If you file within the six-month extension period and your unpaid tax exceeds 10% of your total liability, you face a 2% penalty per month or part of a month from the due date until the return is filed.

• How much individual income tax do you need to pay in Chesapeake?

  Chesapeake follows Virginia's income tax brackets, which begin at 2% for taxable income less than or equal to $3,000. All taxpayers are also subject to a $60 flat tax. If your income is more than $3,000 but less than $5,000, your tax is $60 plus 3% of the extra. You must pay $120 plus 5% above $5,000 for the $5,000-$17,000 tier. Lastly, if your income exceeds $17,000, you will be taxed $720 plus an extra 5.75%.

• How high is the sales tax percentage in Chesapeake?

  Chesapeake has a higher percentage of 6% than other counties and cities in Virginia, which have a 5.3% sales tax. This is because extra local taxes are levied on top of the state's proportion. On the other hand, food for home use, such as groceries, and some basic personal hygiene goods are taxed at 1% throughout Virginia.

• Are there exemptions to income taxes in Chesapeake?

  Yes. If you are a Chesapeake resident over the age of 65 or considered blind for federal income tax purposes, you are eligible for an additional tax exemption of up to $800. Additionally, if you are married and have dependents, you and your other half may individually file for a spouse tax adjustment, as well as dependent exemptions. Note that the amount is prorated if you are a part-year resident.