As a follow-up to the Franchise Tax Board’s recent press release, I wanted to follow up with the details of California’s Voluntary Compliance Initiative 2 (VCI 2) that began August 1, 2011, and runs through October 31, 2011. If you’ve already taken part in the IRS’ Voluntary Disclosure program, or are considering doing so before the August … Continue reading California's Voluntary Tax Compliance Initiative
In concert with the IRS’ Voluntary Disclosure Program discussed here and here, California is also keenly interested in offering some amnesty to taxpayers who “avoided tax bills” if it mean capturing further state tax revenue. However, the program starts today and the deadline of October 31, 2011 to participate in California’s Voluntary Compliance Initiative is quickly approaching. The benefit of avoiding … Continue reading New Opportunity for California Taxpayers Who Avoided Tax Bills