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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.
But what if you determine that you or your business owes state taxes and your sta…