ARLINGTON, Va., Dec. 9, 2010 /PRNewswire-USNewswire/ -- Over the past two years, nearly half the states have offered tax amnesty programs under which a limited period is provided during which taxpayers may report past due taxes without penalty. At the same time, almost every state offers a voluntary disclosure program that is available throughout the year. In Voluntary Disclosure or Tax Amnesty? Evaluating the Carrots and Sticks, a new webinar from BNA Tax & Accounting, Kenton M. Bowles, a specialist in voluntary disclosures and a tax partner with Clifton Gunderson LLP, will discuss the differences between the two programs and what taxpayers should consider when deciding whether to take advantage of either one.
In 60-90 minutes, Bowles will:
- Describe the basic components of an amnesty program and how to participate
- Explain the key aspects of voluntary disclosure programs
- Discuss the important role that the "look-back" period plays in both types of program
- Highlight the practicalities that come into play such as gathering supporting documentation and executing an agreement
Participants will learn:
The differences between an amnesty program and a voluntary disclosure program
- The various incentives offered by each type of program
- The practical concerns that arise from executing a voluntary disclosure agreement or participating in an amnesty program
- The potential penalties that might apply to a taxpayer that is found to owe taxes after failing to participate in an amnesty program
- How to weigh whether to participate in an amnesty or voluntary disclosure program
"There are several key factors that must be weighed when deciding whether to participate in an amnesty or a voluntary disclosure program. This webinar is designed to give practitioners the practical advice they need to understand which type of program best suits each particular client," said Steven Roll, a senior state tax analyst for BNA Tax & Accounting.
About the Speaker
Kenton Bowles has over 15 years of experience in State and Local Tax (SALT) experience. Kenton has an extensive background in state and local tax services, with an emphasis in sales and use tax, income and franchise tax, and unclaimed property. Kenton's knowledge of state and local taxes extends into several industries, including manufacturing, recreation, hospitality services, graphic arts and printing, health care, automotive and transportation, restaurant and food, contractors, e-commerce and computer related industries, telecommunications, non-profit and charitable organizations, retail, and wholesale.
As a leader of the State and Local Tax practice, Kenton provides services in several inter-related products including - Nexus Reviews, Voluntary Disclosure and Amnesty, Sales & Use Tax Refund Analysis, Income & Franchise Tax Analysis, Credits & Incentives, Unclaimed Property, Audit Defense, and Corporate Structuring.
Voluntary Disclosure or Tax Amnesty? Evaluating the Carrots and Sticks will take place December 16, 2010, from 12:30 pm - 2:00 pm, ET. Register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bnatax.com/voluntary-disclosure-webinar/?open&cmpid=tmtxpr2010 or call 1- 800-372-1033, menu Option 6, then Option 1. The per site fee is $249.
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About BNA Tax & Accounting Webinars
BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants. Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. In just 60-90 minutes, practitioners gain in-depth knowledge on a current tax or accounting topic from experts in that area - and benefit from practical applications that can be put to work immediately. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits - all from the convenience of their own office or conference room.
SOURCE BNA Tax & Accounting