Voluntary Disclosure Program

Before the Knock at the Door: Why Taxpayers Should Act Now Under the IRS Voluntary Disclosure Program

Disclosure of past returns. The VDP requires participants to disclose the prior six years of tax returns, regardless of whether the returns were accurate. Not an unreasonable “ask,” since the statute ...

JD Supra

ERC Voluntary Disclosure Program Re-Opens

On 7/15/24, the IRS announced via Notice IR-2024-212 the re-opening of the ERC (Employee Retention Credit) Voluntary Disclosure Program which will end on 11/22/24. The first ERC Voluntary Disclosure ...

14d

IRS Seeks to Revive its Voluntary Disclosure Practice

The IRS’s Voluntary Disclosure Practice helps taxpayers fix past non-compliance with protections from prosecution. Due to low ...

Forbes

Nothing Lasts Forever: IRS Employee Retention Credit Voluntary Disclosure Program Ends Soon

The IRS’ second employee retention credit (ERC) voluntary disclosure program for businesses who want to pay back the money they received after filing ERC claims in ...

Reuters

Criminal Division's new voluntary self-disclosure program still uncertain and risky

April 29, 2024 - On April 15, 2024, the Department of Justice released its "Criminal Division's Pilot Program on Voluntary Self-Disclosures for Individuals." Similar in many ways to programs ...

Newsweek

IRS Issues Urgent Warning Over Incorrect Claims

The Internal Revenue Service (IRS) has issued an urgent reminder to businesses to address improper Employee Retention Credit (ERC) claims through the agency's Voluntary Disclosure Program. With the ...

Law

DOJ Seeks to Incentivize Corporate Compliance Through Voluntary Self-Disclosure Programs, Including Program for Individuals

In the span of 15 months, the U.S. Department of Justice (DOJ) and certain individual U.S. Attorney's Offices announced no less than six different voluntary self-disclosure or whistleblower policies ...

Accounting Today