The Tax-osaurus Rex, or the fearsome offshore voluntary disclosure programs, has made thousands of taxpayers panic since it smashed through the scene a few years ago. While some chose to run and probably ended up torn to parts by vicious raptors (collectors), others are trying to survive by disclosing their foreign accounts and making up for previous tax returns and FBAR transgressions. Unfortunately, federal raptors aren’t the only terrors that’ll drive you behind a kitchen counter; ‘friendly’ state raptors are sniffing taxpayers out.

“You Just Went and Made a New Dinosaur?”

Well, the few states with state income tax were tempted to get a piece of the IRS’s action. After all, taxpayers who didn’t report their interest income from an undisclosed Swiss account probably didn’t report it for state tax purposes. Therefore, if you’re amending Read More