Tax
Jul. 8, 2011
California Taxpayers: Voluntary Disclosure Deadlines Loom
Two new programs provide amnesty from a wide variety of civil and criminal penalties for qualifying taxpayers. By Sanford Millar
With August approaching, California taxpayers have two voluntary disclosure programs to consider. The first is the federal "Second Supplemental Offshore Voluntary Disclosure" (OVDI), which ends August 31 (subject to extension discussed below). The second is California's recently enacted "Voluntary Compliance Initiative Two" (California Amensty), which runs from August 1 to October 31.
The two programs have a co...
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