As part of most voluntary disclosure programs, taxpayers agree to pay all taxes going forward.
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The IRS updated its offshore voluntary disclosure initiative FAQ page on June 2, 2011.
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If you are still fretting over undisclosed foreign bank accounts, consider the IRS voluntary disclosure program.
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This kind of development should make the IRS voluntary disclosure program even more attractive.
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Movements towards greater transparency and voluntary disclosure, however grudging, are a positive step in this direction.
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If the taxpayer has not been willful, then a traditional voluntary disclosure may be appropriate.
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In the beginning, his Offshore voluntary disclosure programs were US homeland evader Whale directed.
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It turns out that over 120 FCIB account holders stepped forward under the IRS voluntary disclosure program.
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Under last year's amnesty a taxpayer who made a voluntary disclosure was spared the heaviest possible penalties.
Out of an abundance of caution, son could do a traditional voluntary disclosure as to the account.
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But the 30, 000 detailed accounts and names from the IRS voluntary disclosure programs may be best of all.
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The safest alternative is full voluntary disclosure, but many clients fear huge penalties.
More recently, the IRS has started another prepackaged voluntary disclosure program in 2011.
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In one recent case, a CPA attempted to represent a taxpayer in making an OVDP voluntary disclosure concerning foreign accounts.
According to the Taxpayer Advocate Service, about 310 taxpayers opted out of the 2009 and 2011 offshore voluntary disclosure programs.
Will the taxpayer who makes a voluntary disclosure now be subject to the full brunt of the civil tax penalties?
It was our discovery and voluntary disclosure of this evidence in January that led to the re-opening of the police investigation.
The IRS is currently offering a limited amnesty program for taxpayers who are not compliant, the 2011 Offshore Voluntary Disclosure Initiative (OVDI).
The IRS notified Ron two weeks ago that his voluntary disclosure had been accepted, meaning he isn't at risk of being prosecuted.
Mr Afzal is also seeking greater use of voluntary disclosure of information about suspected stalkers by agreement with mobile-phone companies and ISPs.
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However, one can make a voluntary disclosure even without a special program.
If discovered before any voluntary disclosure submission, the results can be devastating.
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Luckily for UBS' clients, the government prosecutes fewer than 2, 500 tax cheats a year and the IRS has a liberal "voluntary disclosure" policy.
The IRS has had a general program of voluntary disclosure for decades as well as various programs aimed at assessing particular tax issues.
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It should be noted that under the amnesty, a taxpayer who made a voluntary disclosure was locked into the "one-size-fits-all" penalty structure described above.
Last year the White House released a voluntary disclosure policy under which most visitor records from Sept. 15, 2009, onward would be made public.
Provide a check payable to the Department of Treasury in the total amount of tax, interest and accuracy-related penalty for the voluntary disclosure period.
Both of these actions reflect a fundamental precept of voluntary disclosure.
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Taxpayers who wish to participate in the Offshore Voluntary Disclosure Initiative (OVDI) for foreign accounts have until Friday, September 9, 2011, to submit their paperwork.
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Their latest effort: Draft voluntary disclosure rules put out in late May by the College Savings Plan Network, part of the National Association of State Treasurers.
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