Voluntary disclosure agreement

In accounting, voluntary disclosure agreement means an agreement in which a business with unfiled state tax obligations comes forward before the state contacts it — often anonymously at first — and files and pays a limited lookback period, typically three to four years, with penalties waived and interest usually due.

Layer: Lexicon
Defined in: Lexicon
Also called: VDA
Nearby: 4

Not a rule

State tax agency programs; MTC National Nexus Program — not codified. US GAAP governs recognition, measurement and presentation — not the mechanics a bookkeeper uses to get there. Anyone citing a standard for this word is citing the wrong thing.

Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.

For founders

The same idea written for a founder: what it costs a startup that ignores it, and what to do in a real month.

Registering in a new state: remote hires and nexusA remote hire or nexus in a new state means foreign qualification, payroll tax accounts and maybe a sales tax permit. What to register, in what order.

What it is not called

Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.

amnesty (a time-limited program)
audit settlement

Nearby in the catalog

No component names this concept outright. These are the ones in its part of the system, which is a weaker claim — but a component nothing links to is a component nobody finds.