§ 58.1-631. Jeopardy assessment
If the Tax 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 Tax 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 Tax 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.
(Code 1950, § 58-441.32; 1966, c. 151; 1984, c. 675.)
Sections: Previous 58.1-625.1 58.1-626 58.1-627 58.1-628.1 58.1-628.2 58.1-629 58.1-630 58.1-631 58.1-632 58.1-633 58.1-634 58.1-635 58.1-636 58.1-637 58.1-638 NextLast modified: April 3, 2009