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Course Details

Course Information
  • smart_display Format

    On-Demand

  • signal_cellular_alt Difficulty Level

    Intermediate

  • work Practice Area

    Corporate Tax

Date & Time
  • event Date

    Wednesday, September 23, 2020

  • schedule Time

    1:00 p.m. ET./10:00 a.m. PT

  • timer Program Length

    110 minutes

Credit Information

  • BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.

$247.00

This course is $0 with these passes:

CPE
ALL

This course will explain the methods available for resolving past multistate tax liability for businesses and advisers to taxpayers selling products or services in several states. Our panel of state and local tax veterans will cover voluntary disclosure programs, amnesty arrangements, and negotiating settlements for taxpayers struggling to reconcile past debts.

Faculty

Stacey L. Roberts
State and Local Tax Director
TaxOps

Ms. Roberts has been making state and local tax (SALT) less taxing for thousands of businesses over the last 25 years. As a director of the SALTovation team at TaxOps, she guides dynamic businesses through compliance and strategic planning focused on minimizing risk and strengthening tax positions. Ms. Roberts honed her specialty at Andersen Worldwide/Andersen LLP, KPMG and Deloitte before moving in-house with a Fortune 500 company to administer state and local tax. She has also led the national SALT practice at a regional firm. Ms. Roberts is a member of the Colorado Legislative Task Force Concerning Tax Policy and a frequent speaker, instructor and author on SALT issues for industry and professional organizations.

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Judith B. Vorndran
Partner
TaxOps

Ms. Vorndran helps clients and tax professionals navigate the morass of state and local tax issues with the goal of making it less “taxing!” She is a nationally recognized thought leader and award-winning instructor with a steady focus on finding ways to simplify complex state and local tax issues and resolve areas of state tax controversy.

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Description

Thirty-six states participate in the Multistate Voluntary Disclosure Program (MVDP). The program allows taxpayers with liability in many states to negotiate a settlement under uniform procedures. The procedure requires filing past returns and payment of tax with the possibility of abatement of penalties for those periods. Of the member states, California and New York, for example, are noticeably missing.

Suffering from lack of revenue during the pandemic, some states are considering amnesty agreements as a revenue source. Ohio offers relief from penalties, interest, and prosecution for delinquent taxpayers who come forward during the three months between Jan. 1 to Mar. 31, 2021.

Taxpayers suffering from unreported state liability must decide whether to make a voluntary disclosure, wait for a potential state amnesty program, or a state audit. For those taxpayers who are audited by a state, handling the audit effectively can reduce penalties, interest, and the tax burden of noncompliance. Understanding how to negotiate a settlement properly, how to beneficially manage the statute of limitations, and when litigation may be the best option are all critical concerns.

Listen as our panel of SALT experts walks you through the available options for settling past state tax obligations.

Outline

  1. Targeted multistate taxpayers
  2. Potential liability
  3. Voluntary disclosure agreements
  4. Amnesty arrangements
  5. Negotiating settlements
  6. Litigation
  7. Best practices

Benefits

The panel will discuss these and other critical issues:

  • Which taxpayers do states target for past unpaid liabilities?
  • Which taxpayers benefit the most from a voluntary disclosure agreement?
  • What are strategies to negotiate a better settlement?
  • What states currently offer VDAs and amnesty agreements?
  • Is it ever better to wait for the states to discover a taxpayer's past obligations?

NASBA Details

Learning Objectives

After completing this course, you will be able to:

  • Determine states with current amnesty and voluntary disclosure programs
  • Decide which taxpayers may owe unanticipated tax in multiple states
  • Identify taxpayers who may benefit from voluntary disclosure agreements
  • Ascertain when litigation may be the best course of action

  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of pass-through taxation, including taxation of partnerships, S corporations and sole proprietorships, qualified business income, net operating losses and loss limitations; familiarity with net operating loss carry-backs, carry-forwards and carried interests.

Strafford Publications, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.