Does Virginia have a tax forgiveness program?

Under the legislation, the Virginia Tax Amnesty Program will be administered by the Department of Taxation for a period ranging between 60 and 75 days during Fiscal Year 2018. All penalties and 50 percent of the interest will be waived upon payment of the taxpayer’s remaining balance.

Who qualifies for VA tax relief?

Many states offer exemptions solely for disabled veterans. California, for instance, allows qualified disabled veterans to receive a property tax exemption on the first $196,262 of their primary residence if their total household income does not exceed $40,000 and the veteran is 100 percent disabled as a result of …

Is Virginia a tax-friendly state?

Virginia has a number of exemptions and deductions that make the state tax-friendly for retirees. It exempts all Social Security income from the state income tax. Likewise, the average state and local sales tax rate is 5.65%, among the lowest in the U.S.

When to consider an offer in compromise for taxes?

We can consider offers in compromise from individuals and businesses for the following reasons: Waiver of penalties over $2,000 if extenuating circumstances kept you from filing or paying your taxes on time You may not be liable for the amount assessed (doubtful liability)

What happens if my offer is not accepted by the Tax Commissioner?

If the Tax Commissioner accepts your offer, we will remove any amounts waived from your bill. If your offer is not accepted, you must pay the balance of the bill in full. See the Taxpayer Bill of Rights for more information.

How to request an offer in compromise for requests for relief?

How to request an offer in compromise For requests for relief based on doubtful liability or for waiver of penalty, submit the required forms, and include all required documentation as detailed in the instructions: Individuals: Form OIC I-2

How to make an offer for tax relief?

For requests for relief based on doubtful liability or for waiver of penalty, submit the required forms, and include all required documentation as detailed in the instructions: For requests for relief due to financial hardship (doubtful collectibility), submit a completed offer package, including all required forms and supporting documentation: