IRS to Allow 90-day Extension of August 31, 2011 Voluntary Disclosure Deadline to Good-Faith Participants

As reported by Bloomberg, today the IRS announced that it would let taxpayers seek a 90-day extension of the August 31, 2011 voluntary disclosure deadline by showing that they have made a “good-faith attempt” to meet the deadline and explaining what information they are missing. That said, IRS spokesman Anthony Burke was quick to point out that without an extension, “[t]he deadline is still Aug. 31 and it is important and we expect that most taxpayers will meet the deadline.”