Voluntary Disclosure & Registration Assistance

312-701-1800
info@ycstax.com

Once you've established sales tax nexus in a particular state, you are required to register before beginning to collect sales tax from your customers and (along with any use tax obligation) remitting such tax to the state. We can assist you with registration, including such services as providing appropriate forms for your completion, review of completed forms prior to submission, or completion of the forms for you.

This can be a "tricky" situation if you've determined that nexus was established in a past period. Simply registering will expose your earlier responsibilities with no look-back period protection. In other words, a State can go back an unlimited number of years and assess tax, penalty & interest on all unfiled tax return periods - back to the first day when nexus was established. Based on the number of open periods and estimated liability exposure, we can assist you with selecting the best compliance approach, including registration, voluntary disclosure agreements, or, if available, open amnesty programs.

Voluntary Disclosure Agreements may be especially beneficial if the number of open tax periods or estimated tax liability is significant. These agreements, typically negotiated on an anonymous basis, will limit the number of years you have responsibility and close previous periods. Penalties are typically waived. This alternative can, depending on your particular situation, substantially reduce your sales tax liability exposure. We can assist you with determining if this is an appropriate solution and develop a compliance strategy.

If you would like us to contact you to discuss our Voluntary Disclosure services and the various roles in which we could assist you, click here.

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