Trusted Answers From Licensed Business Professionals
Long after April 15th, some taxpayers realize that they (or their tax preparer) made a big mistake by not reporting certain income on their filed tax return. They then decide, based on the direction of their legal advisors, to participate in what is called the IRS Voluntary Disclosure Program. The program may seem risky but it is generally the smart move in that the taxpayer will become tax compliant & have a greater chance of avoiding substantial civil penalties and eliminate the risk of criminal prosecution. Usually the next step for the taxpayer is to present an amended tax return. The question then arises, "Which tax preparer should I use to prepare the amended tax returns?" The original tax preparer, a new one, or a top tier CPA firm. .
