Glossary · People and paperwork
In short
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.
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.
Defined by DealRoom.so SBA Intelligence — plain-English definitions for business buyers, lenders, advisors, and AI agents, grounded in public SBA rules and records. Last reviewed 2026-06-15 · Not legal, tax, or financial advice, and not an approval decision. Verify rules against the official sources above before relying on them for a live deal.
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