Illinois Voluntary Disclosure Agreement

To qualify for this program, a candidate must not be reviewed or reviewed. When a denoued has received a written notification of a review or review of a tax, it is prohibited to participate in the program of these taxes. The public must also ensure that the taxes disclosed are not subject to review or investigation by the department involving a person or organization that participated in a previous mass sale with the public, and that it has not received notification of the tax disclosed. The public cannot provide information about the tax and the period for which it received a notification of irregularities from the city, but must pay these amounts for other periods or taxes as part of its disclosure. In exchange for voluntary disclosure and payment or transfer of tax and non-tax debts, the Department undertakes to waive all penalties and half of the interest that would otherwise apply. The Division also agrees not to evaluate the public for periods prior to the four-year period for publicly available taxes. If the department subsequently reviews the public for periods and determines less than a 10% tax change in what the decompet paid as tax due, the public is responsible for the total amount of taxes, late penalties and interest due to the additional amount set. In addition, if this tax change is greater than or equal to 10%, the Department may revoke the terms of the agreement, assess all applicable sanctions and extend the review to all periods of time open after limitation. Taxpayers, tax collectors and their representatives who wish to file a voluntary disclosure request should do so online with Chicago Business Direct. If the application is approved, the decousle has 30 days to register, calculate and pay the amounts owed, unless an extension is granted. The department will verify the accuracy of the calculations and, once the amount due has been confirmed, an agreement will be prepared for the public`s signature. A copy of the fully executed contract is made available to the flyer in the execution of all the terms of the contract.

If you have any questions about the voluntary disclosure program, please contact Emily Kearney at 312-747-3837. If a company`s voluntary disclosure agreement or VDA is accepted, there are strict deadlines for obtaining all the benefits of the Voluntary Disclosure Agreement program. Keep in mind that a voluntary disclosure agreement is a legal agreement between the company and the state.

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