The voluntary disclosure landscape in Canada and the U.S.: A comparative guide for tax lawyers

By Larry Nevsky, Michelle Abroms Levin and Oliver Nam ( December 24, 2025, 12:38 PM EST) -- Due diligence processes, throughout the course of cross-border mergers and acquisitions, often uncover past tax reporting errors or unpaid taxes, which should be resolved either pre- or post-closing. U.S. purchasers acquiring Canadian businesses, and vice versa, may discover that the target company has not remitted certain taxes as required under local law, creating exposure to liability and penalties....