Category Archives: Tax Amnesty

UPDATE: MTC Extends Deadline for Amnesty under the Online Marketplace Seller Voluntary Disclosure Initiative

Earlier today, the Multistate Tax Commission (MTC) released an update extending the October 17, 2017 deadline for businesses to file under its Online Marketplace Seller Voluntary Disclosure Initiative. The new deadline is now November 1, 2017. This initiative is specifically for businesses who are online marketplace sellers using a marketplace provider/facilitator ...

Massachusetts Joins MTC Amnesty Program

Massachusetts Joins Multistate Tax Commission Amnesty Program For Most States Amnesty Features Complete Tax Forgiveness Urgent Action May Be Needed By Attorney Morris N. Robinson, CPA, LLM August 18, 2017 Boston – On August 18, 2017 Massachusetts joined 22 other participating states and the District of Columbia in offering a special limited-time tax amnesty through ...

The Power of Voluntary Taxpayer Disclosure

Today the Boston Globe reported that PTC, Inc. (“PTC”) voluntarily disclosed that its Chinese subsidiaries allegedly provided about $1.5 million in bribes to foreign officials over a period of five years (from 2006 through 2011) in violation of the United States Foreign Corrupt Practices Act. PTC is a publicly held ...

State Voluntary Taxpayer Disclosure Programs: An Overview

State Voluntary Disclosure Programs: An Overview[1]

By Attorney Morris N. Robinson, CPA, LLM[2]

What is Voluntary Disclosure? Most state departments of revenue[3] allow certain categories of noncompliant taxpayers to come forward voluntarily and pay taxes accrued during a limited lookback period.[4] Taxpayers ...

Amnesty for Massachusetts Non-Filers Might Occur in 2016

Taxpayers who failed to file their Massachusetts income tax returns, or who underreported their income, might be given a two-month window in April and May 2016 to enter into a tax amnesty program.  The program is still in the planning stages.  It has not yet received final approval, and details ...

Massachusetts Non-Filer Amnesty Details Revealed

BOSTON, June 3, 2015. In early March of this year Governor Charlie Baker proposed a tax amnesty for taxpayers who have not filed tax returns with the Massachusetts Department of Revenue. According to reports published over the Internet, MDOR will waive penalties for both business and individual taxpayers. Today, representatives ...

One Size Does Not Fit All: Unintended Consequences of the Offshore Voluntary Disclosure Program

On January 9, 2012, the Internal Revenue Service (IRS) reopened the Offshore Voluntary Disclosure Program (“2012 OVDP”) “on the heels of strong interest in the 2011 and 2009 programs.”  Although the IRS maintains that it may “end the 2012 program at any time in the future,” there is no indication that it will abandon its well-established pattern of announcing new iterations of the OVDP with slight changes to form and slightly more significant changes to substance. The steadily increasing rate of the miscellaneous penalty—currently 27.5 percent of the highest aggregate value of foreign accounts and/or assets that are connected in any way to the taxpayer’s noncompliance, a significant increase from the 20-percent miscellaneous penalty in the 2009 Offshore Voluntary Disclosure Program (“2009 OVDP”)—suggests that the IRS is seeking to deter noncompliant taxpayers from taking a “wait and see” approach.