http://www.SodowskyLaw.com Sometimes emergencies come up and life happens that prevents you from paying your taxes. When you owe the Virginia Department of Taxation money, it is considered a tax debt. Find out what happens when you cannot pay the taxes that you owe.
In Virginia, two things may occur if you owe money to the Virginia Department of Taxation. Because they want to get paid right away, they may file a lien against you to protect their interests. However, a Memorandum of Lien typically gets filed when that amount of tax debt is so large that it will take a long time to pay back. In order to avoid this situation, you can set up a payment plan. Depending on the amount of taxes you owe, the Virginia Department of Taxation may agree to the payment plan and let you move forward without a lien.
To protect your interests when dealing with back taxes, you should consult a tax professional. The Sodowsky Law Firm in Fairfax can answer your questions and let you know how we can help you. Call us today at 703.476.1176.