voluntary disclosure program

Definitions

1. A program extended to eligible tax entities that waives penalties on unpaid tax liabilities or unfulfilled filing requirements in exchange for their voluntary disclosure and the payment of interest of past due amounts.

2. A program extended to tax entities to prevent federal criminal prosecution for tax avoidance using offshore strategies. The program requires the payment of past due taxes and interest plus a 20 percent penalty on the highest asset value of foreign accounts held during the tax years at issue.

单词	voluntary disclosure program
释义	voluntary disclosure program Definitions 1. A program extended to eligible tax entities that waives penalties on unpaid tax liabilities or unfulfilled filing requirements in exchange for their voluntary disclosure and the payment of interest of past due amounts. 2. A program extended to tax entities to prevent federal criminal prosecution for tax avoidance using offshore strategies. The program requires the payment of past due taxes and interest plus a 20 percent penalty on the highest asset value of foreign accounts held during the tax years at issue.
随便看	fixed and floating charge fixed and variable rate allowance (FAVR) fixed annuity fixed asset fixed asset management fixed assets (net) to net worth ratio fixed asset turnover ratio fixed budget fixed capital fixed-change coverage ratio fixed charge fixed charge coverage ratio fixed charges fixed deposit fixed effects model fixed exchange rate fixed expenses fixed factor fixed income fixed income fund fixed income investment fixed income security fixed income trust fixed input fixed interest trust