Voluntary disclosure programs, both at the federal (Internal Revenue Service) and state (New Jersey Division of Taxation) levels, offer taxpayers the opportunity to proactively come forward and rectify past non-compliance before they are identified by tax authorities. When properly executed, a voluntary disclosure can significantly mitigate penalties, prevent criminal prosecution, and limit the look-back period for outstanding tax liabilities.
Our tax team assists clients with assessing their eligibility for a voluntary disclosure program, developing a strategy for disclosure, and navigating the disclosure process at both the federal and state levels, as well as post-disclosure compliance. The firm has expertise in voluntary disclosures related to unreported income, unfiled individual and corporate tax returns, sales and use tax non-compliance, employer withholding tax issues, and corporate business tax obligations.