Tax News

CCH (cch.taxgroup.com) reports:

  The New York Department of Taxation and Finance has announced that, under the new voluntary disclosure and compliance program, eligible taxpayers who owe back taxes can avoid monetary penalties and possible criminal charges by doing the following:

  -- telling the Department what taxes they owe;

  -- paying those taxes; and

  -- entering an agreement to pay all future taxes.

  The program was authorized by the 2008-09 budget package. (TAXDAY, 2008/04/25, S.14)

  An online application is available on the Department's Web site at
http://www.tax.state.ny.us/e-services/vold/default.htm.

Notice, New York Department of Taxation and Finance, July 2008.