Offer In Compromise Business Request For Settlement Form Page 2
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5Offer In Compromise – Terms And Conditions
Section 58.1-105 of the Code of Virginia allows the Tax Commissioner to compromise and settle doubtful or disputed claims
for taxes or tax liability of doubtful collectibility. The Department of Taxation will consider Offer in Compromise under the
following circumstances:
•
Doubt As To Collectibility: You cannot pay the bill. You must submit a current financial statement with the Offer in
Compromise request form.
•
Doubt As To Liability: You question office audit procedures and/or an established tax law. You must provide a detailed
explanation with the Offer in Compromise request form.
•
Request For Waiver Of Penalty: Extenuating circumstances caused late filing or late payment. You must submit a
detailed explanation with the Offer in Compromise request form. The department will consider waiver for penalties only
due to reasonable cause. Taxes and/or interest can be waived in cases of doubtful collectibility.
To apply for correction of an incorrect bill, contact the Office of Customer Service at: (804) 367-8037 or P.O. Box 1115,
Richmond, VA 23218-1115
•
In submitting an Offer in Compromise, you must complete the Offer in Compromise Business Request for Settlement
form and attach supporting documents to validate your case. Mail the completed form and attachments to the address
below. Make checks payable to Virginia Department of Taxation. If help is needed to complete the form, and the offer is
based on doubtful collectibility, call (804) 367-8045. If the offer is based on doubtful liability or a request for penalty waiver,
call (804) 367-8037.
•
If you have both individual and business bills to settle, submit one offer for all outstanding business taxes. Submit a
separate Offer in Compromise - Individual Request for Settlement form for individual income tax.
•
You are not required to make a payment when the offer is submitted. Clearly indicate on the Offer in Compromise Request
form when the Department will receive payment. If a check is submitted with the offer it will be deposited upon receipt. The
check's deposit does not mean that the offer is accepted.
•
Your Offer in Compromise will be reviewed. If accepted, a letter will be sent to outline the terms and conditions for
payment. If the terms outlined are not met the acceptance becomes void. If the offer is not accepted, a letter of
denial and/or subsequent terms for settlement of your account will be sent. You may resubmit the Offer in Compromise
providing there is new or additional information.
•
Your attorney, tax preparer, or other representative can submit an Offer in Compromise request form in your behalf. Both
you and your representative must sign the submitted form.
Mail the completed form and attachments to:
Tax Commissioner
Virginia Department of Taxation
Attn: CICT
P.O. Box 2475
Richmond, VA 23218-2475
The Department of Taxation may accept, amend, or deny an Offer in Compromise based on facts presented.
Post Office Box 2475 Richmond, Virginia 23218-2475
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