Anyone have experience with VDAs?
Looking for someone who has experience with VDAs in particular how they apply to the seller vs buyer and if one or both party’s is best off filing.
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by an investor
from Stanford University - Graduate School of Business
in St Cloud, MN, USA
in St Cloud, MN, USA
2w ago
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by a professional
2w ago
from Harvard University in Boston, MA, USA
from Harvard University in Boston, MA, USA
Hi Jordan, you might want to try Bill Loew:
Miles Consulting Group
San Jose
(redacteddirect
(redactedmobile
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by a professional
2w ago
from Pontificia Universidad Católica Madre y Maestra (PUCMM) in Santo Domingo, Dominican Republic
from Pontificia Universidad Católica Madre y Maestra (PUCMM) in Santo Domingo, Dominican Republic
The seller (or target entity) is almost always the party that must file the VDA. A buyer cannot file a Voluntary Disclosure Agreement on historic tax liabilities for an entity prior to ownership.
Because state VDAs often take 3 to 9 months to process, don't let the timeline stall the transaction. Have the seller initiate an anonymous VDA pre-disclosure through a representative to lock in the limited 3–4 year lookback period and penalty waivers. Then, set up a targeted tax escrow holdback so the deal can close on time while the VDA finishes processing.
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