For any local­ly imposed and admin­is­tered tax for which a tax­pay­er has not received a writ­ten notice of an audit, inves­ti­ga­tion, or assess­ment from the local tax admin­is­tra­tor, a tax­pay­er is enti­tled to file an appli­ca­tion with the local tax admin­is­tra­tor for a vol­un­tary dis­clo­sure of the tax due.  A tax­pay­er fil­ing a vol­un­tary dis­clo­sure appli­ca­tion must agree to pay the amount of tax due, along with inter­est of one per­cent (1%) per month, for all peri­ods pri­or to the fil­ing of the appli­ca­tion but not more than four (4) years before the date of fil­ing the appli­ca­tion.  A tax­pay­er fil­ing a valid vol­un­tary dis­clo­sure appli­ca­tion may not be liable for any addi­tion­al tax, inter­est, or penal­ty for any peri­od before the date the appli­ca­tion was filed.  How­ev­er, if the tax­pay­er incor­rect­ly deter­mined and under­paid the amount of tax due, the tax­pay­er is liable for the under­paid tax along with applic­a­ble inter­est on the under­paid tax, unless the under­pay­ment was the result of fraud on the part of the tax­pay­er, in which case the appli­ca­tion shall be deemed invalid and void.  The pay­ment of tax and inter­est must be made by no lat­er than nine­ty (90) days after the fil­ing of the vol­un­tary dis­clo­sure appli­ca­tion or the date agreed to by the local tax admin­is­tra­tor.  How­ev­er, any addi­tion­al amounts owed as a result of an under­pay­ment of tax and inter­est pre­vi­ous­ly paid under this Sec­tion must be paid with­in nine­ty (90) days after a final deter­mi­na­tion and the exhaus­tion of all appeals of the addi­tion­al amount owed or the date agreed to by the local tax admin­is­tra­tor, whichev­er is longer.