Tag Archives: Tax Amnesty

VCSP – Voluntary Classification Settlement Program for Employers – Replay

Clarification of the Voluntary Classification Settlement Program for Employers (VCSP). The discussion is based on the information in this Report. Agenda – July 16, 2012 What is the VCSP? What is the deadline? Which employers qualify? What benefits do you get? What are the penalties if you don’t participate, but you get caught? What are […]

News Flash – IRS Amnesty on Offshore Accounts

Second Special Voluntary Disclosure Initiative Opens; Those Hiding Assets Offshore Face Aug. 31 deadline  Courtesy of IRS [TaxMama note: We have been anxiously awaiting this announcement. IRS had mentioned that this was coming. This will be a huge help to people who never meant to conceal their ‘offshore’ accounts. They just didn’t realize they needed […]

IRS Tax Amnesty

Today TaxMama hears from Luz in California, with this query. “Is there any period of time, or once every 4 or 10 years that the IRS forgives or gives a percentage reduction on the amount owed on back taxes to the community?”