Do Amended Returns Submitted under OVDP 2009 and OVDI 2011 Really Have to be Complete and Accurate? (7/7/11)

The answer, as you might suspect, is yes.

FAQ 7 says (in part):

• Provide complete and accurate amended federal income tax returns (for individuals, Form 1040X, or original Form 1040 if delinquent) for all tax years covered by the voluntary disclosure, with applicable schedules detailing the amount and type of previously unreported income from the account or entity (e.g., Schedule B for interest and dividends, Schedule D for capital gains and losses, Schedule E for income from partnerships, S corporations, estates or trusts).

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