TaxConnex

SEPTEMBER 24, 2020

Understand if a VDA is right for your business. A Voluntary Disclosure Agreement (VDA) is a legal means for taxpayers to self-report back taxes owed for income, sales, property, and other tax types. Do your research and determine if a VDA is the best option before moving forward with the next step.

Sales 243

Sales Tax Start-ups audit 243

TaxConnex

APRIL 26, 2022

One remediation option that can be a good fit for many businesses is a Voluntary Disclosure Agreement ( VDA ). If you determine on your own (without a notice from a tax authority or an audit) that you have historical risk concerning sales tax obligations and exposure, one of the primary options for mitigation is a VDA.

audit 172

audit Tax Sales Start-ups 172

TaxConnex

OCTOBER 28, 2021

Determine if a VDA is right for your business. A Voluntary Disclosure Agreement (VDA) is a legal means for taxpayers to self-report back taxes owed for income, sales, property and other taxes. This gives you a chance to mitigate and look for options to correct an issue before it becomes an ever bigger problem.

Sales 205

Sales Tax audit Legal 205

TaxConnex

NOVEMBER 19, 2020

To avoid such an economic hit, many states allow unregistered taxpayers to come forward under a "voluntary disclosure program" that will limit the look-back period to three or four years and usually has a provision to abate the penalty. What is a VDA? What are the main benefits of a VDA to my business?

Sales 216

Sales Tax audit Legal 216

TaxConnex

JULY 28, 2022

Enter a voluntary disclosure agreement (VDA). A VDA is a legal means for taxpayers to self-report back taxes owed for income, sales, property and other tax types. You will need to file the applicable returns and remit the tax due. Ask about tax amnesty.

Sales 130

Sales Tax Start-ups Legal 130

TaxConnex

APRIL 27, 2021

Rushing into a VDA. One of the more common options is to pursue a Voluntary Disclosure Agreement (VDA). Although a VDA might not always be the best option. A VDA is a legal means for taxpayers to self-report back taxes owed for income, sales, property and other types of tax. Penalty abatement.

Sales 130

Sales Tax Wisconsin Missouri 130

TaxConnex

NOVEMBER 18, 2021

Another option is to pursue a voluntary disclosure agreement ( VDA ). VDAs are generally reserved for non-registered taxpayers and taxpayers who haven’t been notified by the tax jurisdiction about non-compliance. When you’ve collected sales tax but have yet to register and remit to the state.

Sales 178

Sales Tax Non-Profits audit 178

TaxConnex

OCTOBER 6, 2022

One common mitigation practice is the voluntary disclosure agreement (VDA), a legal means for taxpayers to self-report back taxes owed, including sales tax. You may also find it easiest to register retroactively with states and file and remit from that period through current.

Sales 198

Sales Tax tax return audit 198

TaxConnex

SEPTEMBER 15, 2020

If you have a significant amount of prior period tax exposure, it may be beneficial to explore a Voluntary Disclosure Agreement (VDA). A VDA is onl y helpful if you start the process before registering with the state.

Sales 225

Sales Tax tax consultant cpa firm 225

ThomsonReuters

MAY 12, 2022

If you think your business may owe taxes, a sales tax amnesty program or voluntary disclosure agreement (VDA) may be available. In most states, the statute of limitation periods for sales tax audits don’t apply in instances of fraud, evasion, or gross negligence. How does a sales tax audit work?

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audit Sales Tax auditor 105

CPA Practice

DECEMBER 21, 2023

The most popular remediation is through a voluntary disclosure agreement (VDA), which offers companies the opportunity to clear all tax exposure. Additionally, registration applications often trigger scrutiny of the effective date and could take a VDA opportunity off the table. While South Dakota v.

South Dakota 49

South Dakota Sales Tax tax return 49