Common use of Federal Income Tax Information Clause in Contracts

Federal Income Tax Information. As soon as practicable after the close of each taxable year, the Trustees shall mail to each Person who was a Beneficiary at the close of the year, a statement showing on a unit basis the dates and amounts of all distributions made by the Trustees, the Trust Assets disposed of by the Trust, if any, income earned on Trust Assets, if any, and such other information as is reasonably available to the Trustees which may be helpful in determining the amount of gross income attributable to the Trust that such Beneficiary should include in such Person's Federal income tax return for the preceding year. In addition, after receipt of a request in good faith, or in their discretion without such request or if required by applicable law, the Trustees shall furnish to any Person who has been a Beneficiary at any time during the preceding year a statement containing such further information as is reasonably available to the Trustees which shall be helpful in determining the amount of taxable income which such Person should include in such Person's Federal income tax return.

Appears in 2 contracts

Samples: Liquidating Trust Agreement (Microcap Liquidating Trust), Liquidating Trust Agreement (Microcap Fund Inc)

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Federal Income Tax Information. As soon as practicable after the close of each taxable year, the Trustees shall mail to each Person who was a Beneficiary at the close of the year, a statement showing on a unit basis the dates and amounts of all distributions made by the Trustees, the Trust Assets number of shares of Toys Common Stock disposed of by the Trust, if any, income earned on Trust Assetsassets held by the Trust, if any, and such other information as is reasonably available to the Trustees which may be helpful in determining the amount of gross income attributable to the Trust that such Beneficiary should include in such Person's Federal income tax return for the preceding year. In addition, after receipt of a request in good faith, or in their discretion without such request or if required by applicable law, the Trustees shall furnish to any Person who has been a Beneficiary at any time during the preceding year a statement containing such further information as is reasonably available to the Trustees which shall be helpful in determining the amount of taxable income which such Person should include in such Person's Federal income tax return.

Appears in 1 contract

Samples: Liquidating Trust Agreement (Petrie Stores Corp)

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Federal Income Tax Information. As soon as practicable after the close of each taxable tax year, the Trustees Trustee shall mail to each Person who was a Beneficiary at the close of the year, a statement showing showing, on a unit Unit basis the dates and amounts amount of all distributions made by the TrusteesTrustee, the Trust Assets disposed of income earned on assets held by the Trust, if any, income earned on Trust Assets, if any, and such other information as is reasonably available to the Trustees Trustee which may be helpful in determining the amount of gross income and expenses attributable to the Trust that such Beneficiary should include in such Person's Federal income tax return for the preceding yearyear and any other information as may be required to be furnished under applicable law. In addition, after receipt of a request in good faith, or in their discretion without such request or if required by applicable law, the Trustees Trustee shall furnish to any Person who has been a Beneficiary at any time during the preceding year year, at the expense of such Person and at no cost to the Trust, a statement containing such further information as is reasonably available to the Trustees Trustee which shall be helpful in determining the amount of taxable income which such Person should include in such Person's Federal income tax return.

Appears in 1 contract

Samples: Liquidating Trust Agreement (Advanced Switching Communications Inc)

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