Voluntary Disclosure or Tax Amnesty? Choosing to Participate Requires Careful Evaluation of Dangling Carrots and Big Sticks

The Bloomberg BNA Tax Management Weekly State Tax Report filters through current state developments and analyzes those critical to multistate tax planning.

While tax amnesties have generated considerable publicity, many states quietly offer another way for taxpayers to come current on their liabilities—a voluntary disclosure program that, unlike an amnesty, is available year round. In this interview, BNA talks with Kenton M. Bowles, tax partner with Clifton Gunderson LLP, about the differences between the two programs and what taxpayers should consider in deciding whether to take advantage of either one.

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