by Renu Vardhan | Feb 9, 2011 | Amnesty Program, Voluntary Disclosure
After the success of the 2009 Offshore Voluntary Disclosure Program, once again, the Internal Revenue Service announced a special voluntary disclosure initiative designed to bring offshore money back into the U.S. tax system and help people with undisclosed income...
by Renu Vardhan | Jul 27, 2010 | Non Profits, Tax Administration, Voluntary Disclosure
Small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008 and 2009 can preserve their status by filing returns by Oct. 15, 2010, under a one-time relief program.The relief announced is not...
by Renu Vardhan | Jul 14, 2010 | Amnesty Program, Voluntary Disclosure
Florida’s tax amnesty program is an opportunity for taxpayers to voluntarily pay overdue taxes with no penalty and reduced interest. Florida’s Tax Amnesty Days start July 1 and end on September 30, 2010.All taxes administered by the Department of Revenue...
by Renu Vardhan | Sep 21, 2009 | Voluntary Disclosure
Taxpayers with undisclosed foreign accounts or entities and unreported offshore income should make a voluntary disclosure because it enables them to become compliant, avoid substantial civil penalties and generally eliminate the risk of criminal prosecution. Making a...
by Renu Vardhan | Aug 20, 2009 | Voluntary Disclosure
The Internal Revenue Service and the Department of Justice today announced the successful negotiation of an agreement that will result in the IRS receiving an unprecedented amount of information on United States holders of accounts at the Swiss bank UBS.As a result of...