Determining eligibility for state voluntary disclosure programs.
This article is a survey of state voluntary disclosure programs. Part I focuses on who is currently eligibility and whether prior programs and conformity with the IRS’s Offshore Voluntary Disclosure Programs and Initiatives (OVDP). In Part II, we discuss potential problems taxpayers and practitioners have in states like California where there either is a nonconforming voluntary disclosure program or no voluntary disclosure program at all.. In Part III, we provide a categorical overview of state voluntary disclosure program (VDP) models under their current systems. This article focuses on a few states per model to outline their apparent advantages and disadvantages. Part IV concludes with recommendations for the state of California and how it can accommodate conformity and raise revenue through a new voluntary disclosure program. The Appendix includes a chart summarizing state voluntary disclosure programs.
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Sanford I. Millar is the founder of MillarLaw a Professional Corporation. He is a Certified Specialist in Taxation Law and is admitted to practice before all courts in the State of California. Mr. Millar has received the highest rating by Martindale-Hubbell Law Directory and has been named a Southern California Super Lawyer from 2006 – 2017.
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