                                 CODE OF VIRGINIA

JEOPARDY ASSESSMENT (§ 58.1-2299.12)

If the Commissioner is of the opinion that the collection of any tax or any
amount of tax required to be collected and paid under this chapter will be
jeopardized by delay, he shall make an assessment of the tax or amount of tax
required to be collected and shall mail or issue a notice of such assessment to
the taxpayer together with a demand for immediate payment of the tax or of the
deficiency in tax declared to be in jeopardy including penalties. In the case of
a tax for a current period, the Commissioner may declare the taxable period of
the taxpayer immediately terminated and shall cause notice of such finding and
declaration to be mailed or issued to the taxpayer together with a demand for
immediate payment of the tax based on the period declared terminated and such
tax shall be immediately due and payable, whether or not the time otherwise
allowed by law for filing a return and paying the tax has expired. Assessments
provided for in this section shall become immediately due and payable, and if
any such tax, penalty, or interest is not paid upon demand of the Commissioner,
he shall proceed to collect the same by legal process, or, in his discretion, he
may require the taxpayer to file such bond as in his judgment may be sufficient
to protect the interest of the Commonwealth.

HISTORY: 2012, cc. 217, 225.