The “Tax Cuts and Jobs Act” signed into law last December brought tax relief to middle-class Americans across the country. However, it will have the unintended consequence of causing tax bills to rise for over middle-class taxpayers and will hit Stafford County residents especially hard given Stafford’s high rate of homeownership and burgeoning middle-class.
In a recent video posted on Facebook, Stafford County Commissioner of the Revenue Scott Mayausky explains the incompatibility issue that exists between the federal and state returns and how it will impact Virginia’s middle-class. The video has connected with taxpayers as it was shared more than 275 times and watched 10,000 times within a 4-day period.
At issue is the “Tax Cuts and Jobs Act” doubling of the standard deduction to $24,000. This change will cause hundreds of thousands of people to stop itemizing deductions and take the standard deduction.
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