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2023 SESSION
22100231DBe it enacted by the General Assembly of Virginia:
1. That § 58.1-1817 of the Code of Virginia is amended and reenacted as follows:
§ 58.1-1817. Installment agreements for the payment of taxes.
A. 1. [ The Except as specified in
subdivision 2, the ] Tax Commissioner is authorized to enter into a written
agreement with any taxpayer [ filing a return for taxes imposed under
Article 10 of Chapter 3 (§ 58.1-400 et seq.) ] 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.
2. 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 of Chapter 3 (§ 58.1-320 et seq.) 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.
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 [ , not to exceed five years ] .
The Tax Commissioner may terminate any installment agreement if:
1. Information which 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. If the Tax Commissioner makes a determination that the
financial condition of a taxpayer who has entered into an installment agreement
under this section has significantly changed, the Tax Commissioner may alter,
modify, or terminate such agreement. Such action may be taken only if (i)
notice of the action is provided to the taxpayer no later than thirty days
prior to the date of such action and (ii) such notice includes the reasons why
the Tax Commissioner believes a significant change in the financial condition
of the taxpayer has occurred.
D. The Tax Commissioner may alter, modify, or terminate
an installment agreement in the case of the failure of the taxpayer:
1. To pay any installment at the time it is due;
2. To pay any other tax liability at the time it is due;
3. To provide a financial condition update as requested by
the Tax Commissioner; or
4.3. To file with the Department any required
tax or information return during the time period such agreement is in effect.
E.D. The Tax Commissioner may alter, modify, or
terminate an installment agreement under other exceptional circumstances as he
deems appropriate.