Amnesty program extended for illegal tax shelters.

• Position: FTB News - Brief Article

The FTB's Voluntary Compliance Initiative has begun its second wave, as the board urges businesses and individuals in California that may have used illegal tax shelters to voluntarily amend their state tax returns to avoid new penalties.

The FTB has sent letters to 7,500 businesses and people who may have invested in illegal tax shelters, inviting them to take part in its Voluntary Compliance Initiative.

Taxpayers guilty of using abusive tax shelters have until April 15 to amend their returns and...