Massachusetts ~ Corporate, Personal Income Taxes: Procedure to Report Offshore Accounts or Assets Discussed

A revised technical information release was issued to inform Massachusetts corporate excise and personal income taxpayers of the IRS voluntary disclosure initiative regarding unreported offshore accounts and to remind them to file federal change reports with Massachusetts. The revised release included a mailing address for submission of amended returns reporting previously undisclosed offshore accounts or assets. Taxpayers who wish to file amended Massachusetts returns prior to receiving a final federal change determination from the IRS to reduce the accrual of interest on unpaid Massachusetts tax should mail such returns to: Massachusetts Department of Revenue, Bureau of Desk Audit, 200 Arlington Street, Room 4300, Chelsea, MA 02150, to the attention of Patrick Shirley.

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Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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