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IRS Voluntary Disclosure Program - How The Accountant Can Help !

Robert Brennan

Robert P Brennan CPA, LLC

  • AFSP
  • CFEs
  • CPA (US)
  • EA
  • Tax Preparer
  • CTEC

Published: June, 2021

You need to register for the webinar to watch the video.

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Before starting this self study program, please go through the instructional document.

The topic is also scheduled as live webinar on the following dates

Aug 10, 2021 | 09:30 AM EDT Register

Overview

  • 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.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Chartered Professional Accountant
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA