Voluntary Disclosure Agreement Illinois

There is a small window of opportunity to participate in the amnesty program. While there are no penalties for non-participation, the ability to avoid penalties and interest on taxable liabilities may encourage many taxpayers to participate. In addition, non-subscribers who want a self-declaration agreement (VDA) with the state, which usually involves a reduction in the penalty and a limited retrospective, should take this into account immediately, so that the tax can be calculated and paid during the amnesty window and the interest can be reduced to possible VDA liability. Taxpayers, tax collectors and their representatives wishing to file a self-declaration request should do so online via Chicago Business Direct. If the request is accepted, the request for disclosure has 30 days to record, calculate and pay the amounts due, unless an extension is granted. The division will verify the accuracy of the calculations and once the amount due has been confirmed, an agreement will be prepared for the advertiser`s signature. A copy of the fully executed agreement is made available to the depositor after the fulfillment of all contractual conditions. If you have any questions about the volunteer program, please contact Emily Kearney at 312-747-3837. In exchange for the voluntary disclosure and payment of tax and non-tax debts, the Ministry agrees to waive all penalties and half of the interest that would otherwise be incurred. The division also agrees not to assess the public for disclosed taxes for periods prior to the four-year period. If, subsequently, the division examines the advertising registrant for the periods and determines less than a tax variation greater than 10% in what the reporting subject paid as tax due, the tax filer is responsible for the full amount of tax, late penalty and interest due on the additional amount determined.

In addition, if this tax change is equal to or greater than 10%, the ministry can revoke the terms of the agreement, assess all applicable sanctions and extend the review to all prescribed deadlines. The Illinois Department of Revenue has accepted changes as a result of changes to its process for voluntary taxpayer advertising agreements. The Ministry has updated the language to Rule 210.126 – Voluntary Disclosure to find that taxpayers now disclose responsibility to the Taxpayer Services Program`s Problem Solving Division (PRD) and not to the Board of Appeal. The problem resolution division will facilitate the voluntary disclosure process for companies that do not comply with Illinois tax laws. To qualify for this program, a disk drive should not be tested or examined. Where a child has received written notification of the examination or examination of a tax, the child is prohibited from participating in the program for those taxes. The publication agent must also ensure that the disclosed taxes are not subject to an audit or investigation by the Ministry involving a person or person involved in a previous mass sale with the disclosure entity and that he has not received a delinquency notification regarding the disclosed taxes. The issuer cannot disclose the tax and period for which it received a default claim from the City, but must pay these amounts for other periods or taxes as part of its disclosure. Under this program, a taxable person or collector must calculate and transfer the amounts due for one of the tax or non-tax debts to be paid or transferred to the Ministry of Finance. The person who wishes to disclose must determine the amount due for the four-year period immediately preceding the date on which he or she requests to participate in the program.

The recipient of the disclosure must transfer the full amount of taxes and interest they charge or enter into a payment agreement to pay it. The guarantor of the disclosure must also register with the Ministry and pay for any previous default and/or late payment that may have existed prior to its disclosure. . . .