Tax Due Diligence
True Partners Consulting utilizes a collaborative approach to identify and focus on the tax exposures and planning opportunities that are material and most important to you.
Your engagement team will include seasoned professionals and recognized subject matter experts. Using experienced personnel minimizes the time required to complete the due diligence process and the disruption to a Target’s daily operations which often occurs during an acquisition. Our focus is to provide you with tax-saving opportunities, as opposed to simply reciting historical tax exposures. Finally, if requested by you, we will assist in implementing any identified opportunities. As a result, we offer an approach that is unique from that of many other service providers.
Under a typical tax due diligence project, we will:
- Review and understand steps of the proposed transaction.
- Review the effectiveness of a Target’s current tax reporting process and/or Tax Department.
- Review Target’s current state tax filing positions (i.e., nexus positions).
- Analyze the impact of the current transaction on current and future state tax filings.
- Review Target’s federal and state income tax filings in an effort to understand historic exposures and favorable tax attributes, including its tax audit history.
- Review state sales and use tax filings, in an effort to identify potential current and future exposure.
- Review employment tax filings for all open years, including independent contractor classifications.
- Review unclaimed property filings and control procedures.
- Review significant property tax filings, including the utilization of enterprise zones, grant, and incentive programs.
- Prepare a written summary of our findings.