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Showing posts from February, 2011

Voluntary Disclosure Programs: Another Avenue for Resolving State Tax Delinquencies

Practical SALT Guidance, State Tax Controversy Options:   In the past, I’ve written about and explained State Tax Amnesty programs. (See my August 23, 2010 "Buzz" post, " State Tax Amnesty: An Opportunity for Taxpayers to Pay Delinquent Taxes, What Taxpayers Need to Know ")  State tax amnesties have been very popular in the last few years as a means to quickly raise badly needed state revenues within a short period. Not surprisingly, state tax amnesties have historically occurred in response to recessionary periods. As in explained in my State Tax Amnesty post , a state tax amnesty is a limited-time program approved by a state’s legislature and administered by a state’s Department of Revenue . During an amnesty period, taxpayers can come forward voluntarily and satisfy their delinquent tax obligations in exchange for certain benefits, such as an abatement of penalties and possibly interest. Bu t what if you determine that you or your business owes state taxes