§ 58.1-1817 Installment agreements for the payment of taxes
A. 1. The Tax Commissioner is required to offer to enter into a written agreement with any taxpayer filing a return for taxes imposed under Article 2 (§ 58.1-320 et seq.) of Chapter 3 under which such taxpayer is allowed to satisfy his tax liability in installment payments over a payment period of up to five years on petition by the taxpayer, if the Tax Commissioner determines such an agreement will facilitate collection.
2. Except as identified in subdivision 1, the Tax Commissioner is authorized to enter into a written agreement with any taxpayer under which such taxpayer is allowed to satisfy his tax liability in installment payments, if the Tax Commissioner determines such an agreement will facilitate collection.
B. Except as otherwise provided in this section, any agreement entered into by the Tax Commissioner under subsection A shall remain in effect for the term of the agreement. The Tax Commissioner may terminate any installment agreement if:
1. Information that the taxpayer provided prior to the date such agreement was entered into was inaccurate or incomplete; or
2. The Tax Commissioner determines that the collection of any tax to which an agreement relates is in jeopardy.
C. The Tax Commissioner may alter, modify, or terminate an installment agreement in the case of the failure of the taxpayer:
3. To file with the Department any required tax or information return during the time period such agreement is in effect.
D. The Tax Commissioner may alter, modify, or terminate an installment agreement under other exceptional circumstances as he deems appropriate.
History
This law was first created in 1996. The record of its establishment is cataloged in chapter 634 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 1 time. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. That modification is as follows: in 2023, chapter 643.
1996, c. 634; 2023, c. 643.