Voluntary Compliance Initiative brings in $1.4B.

• Position: FTB News - Franchise Tax Board - Brief Article

According to the FTB's final report on the 2004 Voluntary Compliance Initiative, 1,202 taxpayers reported $1.4 billion in additional tax liabilities by filing 2,289 amended returns for tax years 1990-2002.

Individual taxpayers accounted for roughly 65 percent of total initiative revenues.

The initiative allowed taxpayers who had engaged in potentially abusive tax avoidance transactions to...