There is good news for franchisors who are having tax issues. Franchise law is very complex, so it’s good to speak to a knowledgeable lawyer like Joseph Adler. Are you curious about what voluntary disclosure is?
In tax law, there is something called voluntary disclosure. Both the IRS (United States) and the CRA (Canada) allow for voluntary disclosure.
For companies and franchisors who realize they failed to pay some taxes, they can do so through the program. If you comply with the program, you won’t incur tax penalties. It’s unclear if you will still have to pay interest. Speak to a franchise or tax lawyer to find out more.
Read on to learn the good news for franchisors.
