{"ok":true,"canonical_url":"https://dealroom.so/glossary/tax-filing","api_url":"https://dealroom.so/api/public/glossary/tax-filing","data_freshness":{"sba_records_through":"2026-05-31","fdic_records_through":"2026-03-31","dealroom_last_updated":"2026-06-15","timezone":"America/Chicago"},"source_summary":["Public SBA 7(a) loan records","FDIC institution data","DealRoom lender and franchise enrichment"],"term":{"slug":"tax-filing","term":"Tax filing","group":"People and paperwork","definition":"This refers to the submission of required tax documents to federal, state, and local authorities. For a business acquisition, you'll need to review the seller's past filings to verify financial performance.","what_it_means":"Lenders will require several years of business and personal tax returns, often verified by IRS transcripts (Form 4506-T), as part of your loan package. Scrutinize these filings during due diligence to confirm the seller's reported revenue and expenses match their financial statements.","url":"https://dealroom.so/glossary/tax-filing","official_sources":[],"related":[{"slug":"tax-return","term":"Tax return","url":"https://dealroom.so/glossary/tax-return"},{"slug":"irs-transcripts","term":"IRS transcripts (4506-T)","url":"https://dealroom.so/glossary/irs-transcripts"},{"slug":"profit-and-loss-statement","term":"Profit and Loss Statement","url":"https://dealroom.so/glossary/profit-and-loss-statement"},{"slug":"balance-sheet","term":"Balance Sheet","url":"https://dealroom.so/glossary/balance-sheet"}],"related_questions":[{"question":"Is a UCC-1 filing sufficient to perfect a lien on business assets?","url":"https://dealroom.so/for-lenders/questions/is-a-ucc-1-filing-sufficient-to-perfect-a-lien-on-business-assets"},{"question":"How does a recent personal bankruptcy filing affect my eligibility for an SBA 7(a) loan?","url":"https://dealroom.so/sba-7a/questions/how-does-a-recent-personal-bankruptcy-filing-affect-my-eligibility-for-an-sba-7-a-loan"},{"question":"How does the SBA generally treat a 7(a) loan applicant with a prior bankruptcy filing?","url":"https://dealroom.so/for-lenders/questions/how-does-the-sba-generally-treat-a-7-a-loan-applicant-with-a-prior-bankruptcy-filing"},{"question":"If a lender obtains a blanket lien, what are the key UCC filing requirements for interstate operations?","url":"https://dealroom.so/for-lenders/questions/if-a-lender-obtains-a-blanket-lien-what-are-the-key-ucc-filing-requirements-for-interstate"},{"question":"What if the business I'm acquiring has pending tax audits or unresolved tax issues?","url":"https://dealroom.so/sba-7a/questions/what-if-the-business-i-m-acquiring-has-pending-tax-audits-or-unresolved-tax-issues"},{"question":"Do unfiled tax returns or overdue taxes prevent SBA approval?","url":"https://dealroom.so/sba-7a/questions/do-unfiled-tax-returns-or-overdue-taxes-prevent-sba-approval"}]},"caveats":["Definitions represent DealRoom's plain-English interpretation for buyers; verify regulatory terms against the official SBA and eCFR sources listed.","Not legal, tax, or financial advice, and not an SBA eligibility determination."],"citation":{"label":"DealRoom.so Glossary — Tax filing","url":"https://dealroom.so/glossary/tax-filing","source_type":"DealRoom Data"}}