Abusive Tax Shelter Disclosure Requirements for Composite Return Filers

              The purpose of this bulletin is to
provide guidance for any taxpayer who
may be included on Form IL-1023-C,
Composite Income and Replacement
Tax Return, and is also required to
disclose participation in certain
potentially abusive tax avoidance
transactions, commonly called abusive
tax shelters.
What are the general
disclosure requirements?
In general, any taxpayer who
participated in a “reportable” transaction,
including any “listed” transaction, must
disclose their participation by attaching a
copy of the federal disclosure form to
their Illinois tax return and sending a
second copy of the disclosure form to the
Illinois Department of Revenue.
Disclosure requirements apply to
transactions entered into in prior years.
For more information about “reportable”
and “listed” transactions,
see Illinois’ information bulletin
FY2005-06, Tax Shelter Voluntary
Compliance Program, or
visit the IRS web site at
www.irs.gov.
Where do I send my disclosure
statements?
If you need to mail your disclosure
statement to us, use the following
address.
ILLINOIS DEPARTMENT OF REVENUE
PO BOX 19029
SPRINGFIELD IL 62794-9029
What are the disclosure
requirements for taxpayers
filing on a composite return?
The general requirements for disclosure
also apply to taxpayers who are included
in a composite return.
Illinois law allows for partnerships and
subchapter S corporations to fulfill
disclosure requirements on behalf of
partners and shareholders that are filed
on a composite return. However, the
partner or shareholder may choose to
fulfill disclosure requirements by mailing
the federal disclosure form directly to the
department. See “Where do I send my
disclosure statements ?” for the correct
address.
Abusive Tax Shelter Disclosure
Requirements for Composite
Return Filers
To:
For information All income tax practitioners
or forms...
Call us at:
1 800 732-8866 or
217 782-3336
Call our TDD
(telecommunications device
for the deaf) at:
1 800 544-5304
Write us at:
Illinois Department of Revenue
P.O. Box 19044
Springfield, IL 62794-9044
Visit our Web site at:
www.ILtax.com
Call our 24-hour
Forms Order Line at:
1 800 356-6302
This bulletin is written to
inform you of recent
changes; it does not replace
statutes, rules and regula-tions,
or court decisions.
Illinois Department of Revenue
Informational Bulletin
Printed by authority of the State of Illinois
7,445 copies - 6/05 - P.O. Number 2051321
FY 2005-17
June 2005
Brian Hamer
Director of Revenue