What is the Internal Revenue Service Criminal Investigation Voluntary Disclosure Practice?

3 mins
Update on Voluntary Disclosure Practice

9 mins
Voluntary Submissions that DO NOT QUALIFY are:

16 mins
How the Accountant can provide Expertise to a Voluntary Disclosure Situation

22 mins
What Years are included in a Voluntary Disclosure and the Related Penalties

36 mins

Course Description

Taxpayers have a legal duty to comply with U.S. Tax Laws. If you owe the IRS money, it is usually only a matter of time before they come to collect. Whether you failed to file, did not disclose all of your income, or for any other reason, getting in touch with them before they come after you is always the better scenario. To make it easier, the IRS and many states have a program called Voluntary Disclosure, wherein an individual or organization can come forward and volunteer information before the situation worsens.

The IRS Voluntary Disclosure Program gives taxpayers an opportunity to safely disclose their offshore accounts, assets, income, and investments to the Internal Revenue Service (IRS). "Voluntary Compliance" is the cornerstone of our tax system. It is estimated over 85% of taxpayers comply with their Tax Obligations. While most taxpayer's voluntary comply, some fail to do so. IRS has a wide variety of civil and criminal sanctions that maybe imposed on non-compliant taxpayers. Failure to voluntarily comply may result in imprisonment, fines, and penalties.

Highlights of the online CPE webinar:

Learn how the Accountant can help their client who has not voluntarily complied with their tax obligations.
Submitting a voluntary disclosure to the Internal Revenue Service requires specialized knowledge and expertise.

A Voluntary Disclosure may be a means to resolve your client's non-compliance and limit exposure to criminal prosecution.

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Learning Objectives

To identify what is The Internal Revenue Service Criminal Investigation Voluntary Disclosure Practice.
To learn the update On Voluntary Disclosure Practice.
To identify who May Disclose.
To recognize how the Accountant can Provide Expertise to a voluntary Disclosure Situation.

Recommended For

This Online Continuing Professional Education Taxes webinar is recommended for CPAs, EAs, CFEs, and Tax Professionals who wants to help their clients in minimizing their tax liability