Agent for Filing Tax Returns Sample Clauses
The 'Agent for Filing Tax Returns' clause designates a specific individual or entity to act on behalf of another party in preparing and submitting tax returns. Typically, this clause outlines the agent's authority to gather necessary financial information, complete required forms, and file returns with relevant tax authorities, often for a business or trust. By formally appointing an agent, the clause ensures that tax compliance obligations are met efficiently and reduces the risk of errors or missed deadlines.
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Agent for Filing Tax Returns. (a) Subject to Section 8.02(c), Marathon, Ashland and HoldCo each hereby designates New Ashland Inc. as its agent to take any and all actions necessary or incidental to the preparation and filing by New Ashland Inc. of any Tax Return described in Section 3.01(a). In addition, Ashland and HoldCo agree that they shall designate 565 Corporation as the "substitute agent" (as such term is used in Treasury Regulation Section 1.1502-77(d)) for the Ashland Affiliated Group. Marathon shall take any and all actions necessary or incidental to obtain the approval of such designation by the IRS.
(b) Marathon shall be the "Tax Matters Partner" (as defined under Code Section 6231(a)(7)) of MAP for all Pre-Closing Periods and all Post-Closing Periods and shall manage the audits of MAP conducted by the IRS or any other Tax Authority.