RS 1774 - Repealed by Acts 2012, No. 834, §13, eff. July 1, 2012.
NOTE: §1774 as enacted by Acts 2021, No. 297, eff. Jan. 1, 2022.
RS 1774 - Voluntary Disclosure Agreements; withholding tax
A.(1) After the secretary of the Department of Revenue has reviewed the application and determined from the information included that the applicant qualifies for a voluntary disclosure agreement, the secretary of the Department of Revenue shall send a copy of the agreement to the applicant or the applicant's representative for signature.
(2) The applicant or applicant's representative, acting under the authority of a power of attorney, shall sign the agreement and return it to the secretary of the Department of Revenue within thirty calendar days of the postmark or email date, or within any extension of time authorized by the secretary of the Department of Revenue beyond thirty calendar days from the postmark or email date.
(3) After the signed agreement is received from the applicant, the secretary or his authorized representative shall sign the agreement and return a copy of the agreement which has been signed by both parties to the applicant.
(4) After all tax and interest due for the look-back period have been paid, the delinquent penalties shall be waived, unless the tax disclosed was collected but not remitted. Where the tax was collected but not remitted, the secretary of the Department of Revenue may consider waiving payment of the whole or any part of the delinquent penalties on a case-by-case basis.
B. All tax due for the look-back period, which shall exclude any tax that was reported on an individual income tax return filed by any worker in the class or classes of workers identified in the application as verified by the Department of Revenue, shall be paid within sixty calendar days of the secretary's signing date of the voluntary disclosure agreement or within any extension of time authorized by the secretary beyond sixty calendar days of the signing date. All schedules or returns required by the secretary to show the amount of tax due shall be included with this payment.
C. The secretary shall compute the interest due for the tax disclosed by the applicant and send a schedule by mail or email to the applicant or his representative showing the amount of tax, interest, and delinquent penalty due. The applicant shall submit payment of the full amount of the interest not remitted or waived within thirty calendar days from the postmark or email date of the schedule or, if applicable, within any extension of time granted by the secretary. If payment of the full amount due has not been received timely, the secretary may void the agreement.
D. The terms of the voluntary disclosure agreement shall be valid, binding, and enforceable by and against all parties, including their transferees, successors, and assignees.
E. The secretary may void a voluntary disclosure agreement if the applicant fails to comply with any of the conditions outlined in the agreement.
Acts 2021, No. 297, §1, eff. Jan. 1, 2022.