News & Analysis as of

Tax Liability Tax Amnesty

McDermott Will & Schulte

What to know about Illinois’s 2025 amnesty programs

On May 31, 2025, the Illinois General Assembly passed House Bill 2755, which contains three amnesty programs the state estimates will substantially increase its coffers. Illinois Governor JB Pritzker signed the bill into law...more

Bowditch & Dewey

Massachusetts Tax Amnesty Announced

Bowditch & Dewey on

The Massachusetts Department of Revenue (DOR) recently announced a tax amnesty program for non-filers and those with outstanding tax liabilities. From November 1 to December 30, 2024, most penalties for eligible taxpayers who...more

Miles & Stockbridge P.C.

Massachusetts Announces Limited Tax Amnesty

The Commonwealth of Massachusetts will offer a limited tax amnesty for certain “eligible taxpayers” from Nov. 1 through Dec. 30. “Eligible taxpayers” can forward and bring their tax liabilities up to date and receive a...more

Jones Day

Brazilian Tax Amnesty Program Temporarily Mitigates Unfavorable Change to Tax Proceedings (UPDATED)

Jones Day on

In Short - The Background: Most Brazilian companies face tax underpayment assessments in light of a complicated tax regime. The Lula government is planning to significantly expand government expenditures and thus needs to...more

Jones Day

Brazilian Tax Amnesty Program Temporarily Mitigates Unfavorable Change to Tax Proceedings

Jones Day on

In Short - The Background: Most Brazilian companies face tax underpayment assessments in light of a complicated tax regime. The Lula government is planning to significantly expand government expenditures and thus needs to...more

Hogan Lovells

HMRC’s PDCF campaign continues – back to business

Hogan Lovells on

HMRC have announced that it will be holding a webinar on Tuesday 6 October to provide an update on its Profit Diversion Compliance Facility (PDCF). The facility is a mechanism that multinational firms can use to settle...more

Hogan Lovells

When is a tax amnesty not an amnesty? HMRC’s Profit Diversion Compliance Facility

Hogan Lovells on

What is the Profit Diversion Compliance Facility? What the PDCF does - The facility is a mechanism that multinational firms can use to settle potential tax liabilities for past years that remain open. It relates to...more

McDermott Will & Schulte

Illinois Amnesty Programs Now Underway

As previously announced, the Illinois Department of Revenue has begun a new amnesty program, running October 1 through November 15, 2019. All taxes paid to the Illinois Department of Revenue for taxable periods ending after...more

A&O Shearman

Summer tax vibes - restructuring of tax obligations and amnesty for accessories bill enacted

A&O Shearman on

Taxpayers who do not qualify for rescheduling of taxes under existing legislation may apply for this procedure within 6 months from publication...more

Akerman LLP - SALT Insights

New Jersey’s Tax Amnesty Is Underway

New Jersey’s Tax Amnesty, launched by the New Jersey Division of Taxation on November 15, 2018, is a limited-time opportunity for taxpayers to settle certain New Jersey tax obligations with reduced interest and abated...more

Cole Schotz

New Jersey Tax Amnesty: Still Time To Take Advantage Before January 15, 2019 Deadline

Cole Schotz on

The New Jersey Tax Amnesty Program applies to state tax liabilities for tax returns due on or after February 1, 2009 and prior to September 1, 2017. The program provides incentives for taxpayers who come forward and pay...more

Burr & Forman

IRS Releases New Guidance on Voluntary Tax Disclosures

Burr & Forman on

A bedrock of IRS administrative practice has been the voluntary disclosure. Where an individual or business has not filed tax returns or believes they may have criminal tax exposure for prior actions, IRS procedures have...more

Saul Ewing LLP

New Jersey Tax Amnesty Program Begins November 15, 2018

Saul Ewing LLP on

New Jersey’s tax amnesty program began November 15, 2018. The program runs through January 15, 2019, during which time eligible taxpayers can disclose and pay any outstanding taxes administered by the New Jersey Division of...more

Fox Rothschild LLP

New Jersey Announces Possibility Of Tax Amnesty

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The New Jersey legislature may enact a law that would create a tax amnesty program for New Jersey taxes. If enacted, the amnesty program would not exceed 45 days or end later than June 15, 2018. ...more

Burr & Forman

IRS Announces End to Foreign Bank Account Disclosure Program: What Can You Do Now If You Still Have Unreported Foreign Bank...

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The IRS recently announced it will be shutting down its successful Offshore Voluntary Disclosure Program (OVDP) for unreported foreign bank accounts and income. The program will end September 28, 2018. Under the OVDP, first...more

Butler Snow LLP

U.S. Internal Revenue Service Cancels Offshore Amnesty Program

Butler Snow LLP on

The U.S. Internal Revenue Service has just announced that it will end the Offshore Voluntary Disclosure Program (“OVDP”) on 28 September 2018. ...more

Fox Rothschild LLP

Pennsylvania To Begin Issuing Penalty Assessments To Taxpayers Who Ignored 2017 Amnesty Program

Fox Rothschild LLP on

The Pennsylvania Department of Revenue this week will start mailing “non-participation penalty assessments” to delinquent taxpayers who failed to participate in the 2017 Tax Amnesty program, Revenue Secretary Dan Hassell...more

Akerman LLP - SALT Insights

Texas Joins The Amnesty Wave

Texas has joined the growing list of states providing amnesty programs for taxpayers with unreported tax liabilities. Texas announced a temporary amnesty program that will commence on May 1, 2018 and run through June 30,...more

Foodman CPAs & Advisors

Why are US Citizens Renouncing their Citizenship?

A significant number of US Taxpayers living overseas have become “unbankable” where they live because of high account servicing costs for local banks (Foreign Financial Institutions – also known as FFIs) caused by the...more

Sheppard Mullin Richter & Hampton LLP

Limited-Time Tax Amnesty for Marketplace Sellers

The Multistate Tax Commission (“MTC”) has implemented a limited-time voluntary disclosure initiative for online marketplace sellers (the “VDI”). The VDI creates an opportunity in many states to have a retailer’s historic...more

Saul Ewing LLP

Pennsylvania Tax Amnesty Begins April 21, 2017

Saul Ewing LLP on

The Pennsylvania Tax Amnesty Program begins on April 21, 2017, and continues through June 19, 2017. The amnesty period is open for 60 days. During the amnesty period, any taxpayer with existing tax liabilities owing to...more

Ballard Spahr LLP

PA Tax Update: Amnesty Program and SUT Change

Ballard Spahr LLP on

Pennsylvania has a tax amnesty program that will run from April 21, 2017, to June 19, 2017. Even with many limitations on participation, this program may provide value to eligible taxpayers who have unfiled Pennsylvania tax...more

Saul Ewing LLP

Details of 2017 Pennsylvania Tax Amnesty Announced

Saul Ewing LLP on

The Pennsylvania Department of Revenue (the Department) has just released details of the tax amnesty authorized by the 2016-2017 Budget passed in July 2016. The tax amnesty is a tremendous opportunity for taxpayers who owe...more

Blank Rome LLP

Pennsylvania Tax Amnesty Enacted

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A new Pennsylvania tax amnesty program is coming. It was enacted as part of the state’s 2016–2017 budget process. Taxpayers with unfiled state tax returns or returns that need to be amended will be able to pay the tax and...more

Pierce Atwood LLP

New Hampshire Lowers Tax Rates, Creates Amnesty and Voluntary Disclosure Programs

Pierce Atwood LLP on

After lengthy negotiations between legislators and Governor Maggie Hassan, New Hampshire enacted significant tax changes, including a cut to business tax rates, an increase in the research and development tax credit, and the...more

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