Considering a Chicago VDA? Why it pays to act now.
Taxpayers considering disclosing unpaid lease tax liability are incentivized to act fast. Any lessee or lessor filing a lease tax voluntary disclosure application (“VDA”) with the City of Chicago by January 1, 2016 will be eligible for special benefits under the city’s limited amnesty program. The program mostly benefits lessors and lessees with significant usage of remotely-accessed hardware or software.
Any provider or customer who is eligible for participation in the city’s standard VDA program is eligible for Chicago’s limited time amnesty program. For example, a taxpayer wishing to participate in the City’s VDA program cannot have received from the Chicago Department of Revenue any prior written notice of tax audit or tax investigation.
True Partners Consulting’s sales and use tax experts can assist taxpayers to quantify and
disclose any unpaid liability.
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Senior Tax Consultant