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Form OIC B 2 Business Offer in Compromise Virginia Tax
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People also ask
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Why would I get a letter from the Commonwealth of Virginia Department of Taxation?
While the majority of tax returns are processed without delay, processing of some returns may take longer due to our refund review and validation procedures. If your return has been stopped for review, you may receive a letter asking for additional information.
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How far back can Virginia go to collect taxes?
What is the statute of limitations on tax collection in Virginia? The state has seven years from assessment to collect unpaid taxes through levies, court proceedings, or other actions allowed under state law.
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Can a business file an offer in compromise?
The Offer in Compromise (OIC) program allows you to offer a lesser amount for payment of a nondisputed final tax liability. If you are an individual or business taxpayer who does not have the income, assets, or means to pay your tax liability now or in the foreseeable future, you may be an OIC candidate.
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Who must file Virginia Form 500?
Every corporation that is incorporated under Virginia law, or that has registered with the State Corporation Commission for the privilege of conducting business in Virginia, or that receives income from Virginia sources, must file a Virginia corporation income tax return (Form 500).
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