Income Tax Filing Assistance Sample Clauses

Income Tax Filing Assistance. The Company will assist in the preparation and filing of your annual income tax return and will determine the tax liability on your Company-earned income. Your tax liability will be paid from the hypothetical tax withheld from your annual base salary and guaranteed bonus. Any additional tax owed as a result of Company-earned income shall be paid by the Company, but any additional tax owed as a result of income received unrelated to the Company provided income shall be your sole responsibility. If you elect an outside accounting firm to prepare and file your income tax return, the Company shall provide one for that purpose.
Sample 1
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Income Tax Filing Assistance. The objective of tax equalization is to ensure that your international assignment neither adds significantly to your tax liability nor results in significant tax savings due to differences in income and social security tax costs between the home and host countries. It ensures that your out-of-pocket obligations remain approximately the same as they would have been had you remained working in your home country. (THIS is directly from the Xxxxxxx tax equalization policy) The tax equalization calculation is the final settlement of your hypothetical tax liability based on your “stay-at-home” employment earnings, plus personal income and deductions. The calculation of your final hypothetical tax liability removes assignment related income, exclusions, deductions and credits from the calculation of the stay at home tax liability. Items reported in your tax return that are removed in the final hypothetical tax calculation include, but are not limited to: expatriate allowances, foreign tax reimbursements, foreign earned income exclusion, and foreign tax credits (related to tax paid by the company). The final hypothetical tax (“stay at home” tax) is the tax liability which you are responsible to pay. The tax equalization compares the final hypothetical tax liability to the amount of tax you have paid out of pocket to determine if you have over or underpaid your tax liability. Your stay at home liability may be paid to the IRS, the company or a combination of both. The FICA/Medicare tax is also tax equalized and included in the tax equalization calculation. You are not required to pay FICA/Medicare tax on the assignment allowances and reimbursements. The Company will assist in the preparation and filing of your annual US income tax return and tax equalization calculation. If you elect an outside accounting firm to prepare and file your income tax return, the Company shall provide one for that purpose. The company will either prepare the tax equalization internally or hire an outside accounting firm to prepare this calculation on the company’s behalf to ensure compliance with the equalization policy.
Sample 1

Related to Income Tax Filing Assistance

  • INCOME TAX RETURNS Borrower has no knowledge of any pending assessments or adjustments of its income tax payable with respect to any year.

  • Income Tax Characterization For purposes of federal income, state and local income and franchise and any other income taxes, the Issuer will, and each Noteholder by such Noteholder’s acceptance of any such Notes (and each Person who acquires an interest in any Notes through such Noteholder, by the acceptance by such Person of an interest in the applicable Notes) agrees to, treat the Notes that are characterized as indebtedness at the time of their issuance, and hereby instructs the Issuer to treat such Notes, as indebtedness for federal, state and other tax reporting purposes. Each Noteholder agrees that it will cause any Person acquiring an interest in a Note through it to comply with this Indenture as to treatment as indebtedness under applicable tax law, as described in this Section 3.21. The Notes will be issued with the intention that, for federal, state and local income and franchise tax purposes the Trust shall not be treated as an association or publicly traded partnership taxable as a corporation. The parties hereto agree that they shall not cause or permit the making, as applicable, of any election under Treasury Regulation Section 301.7701-3 (or any successor provision) whereby the Trust or any portion thereof would be treated as a corporation for federal income tax purposes. The provisions of this Indenture shall be construed in furtherance of the foregoing intended tax treatment.

  • Income Tax Return Information Each Company will provide to the other Company information and documents relating to their respective Groups required by the other Company to prepare Tax Returns. The Responsible Company shall determine a reasonable compliance schedule for such purpose in accordance with Distributing Co.'s past practices. Any additional information or documents the Responsible Company requires to prepare such Tax Returns will be provided in accordance with past practices, if any, or as the Responsible Company reasonably requests and in sufficient time for the Responsible Company to file such Tax Returns on a timely basis.

  • Company Tax Returns The Company shall file all tax returns, if any, required to be filed by the Company.

  • Income Tax Matters (i) In order to comply with all applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to ensure that all applicable federal or state payroll, withholding, income or other taxes, which are the sole and absolute responsibility of Participant, are withheld or collected from Participant.

  • Income Tax Liability Within ten Business Days after the receipt of revenue agent reports or other written proposals, determinations or assessments of the IRS or any other taxing authority which propose, determine or otherwise set forth positive adjustments to the Tax liability of any “affiliated group” (within the meaning of Section 1504(a)(l) of the Code) which equal or exceed $1,000,000 in the aggregate, telephonic or telecopied notice (confirmed in writing within five Business Days) specifying the nature of the items giving rise to such adjustments and the amounts thereof.

  • Federal Tax Status Commencing with its taxable year ended December 31, 2013, the Company has been organized and operated in conformity with the requirements for qualification and taxation as a real estate investment trust (a “REIT”) under the Code, and will continue to operate in a manner that will enable it to meet the requirements for qualification and taxation as a REIT under the Code for its taxable year ending December 31, 2019 and thereafter. All statements regarding the Company’s qualification and taxation as a REIT and descriptions of the Company’s organization and current and proposed method of operation (inasmuch as they relate to the Company’s qualification and taxation as a REIT) set forth in the Registration Statement and the Prospectus are accurate and fair summaries of the legal or tax matters described therein in all material respects. Each of the Company’s direct or indirect corporate subsidiaries will qualify as a “taxable REIT subsidiary” within the meaning of Section 856(l) of the Code. The Operating Partnership will be treated as a partnership and not as an association taxable as a corporation for U.S. federal income tax purposes.

  • Tax Characterization and Returns Until such time as the Company shall have more than one member, it is the intention of the Member that the Company be disregarded for federal and all relevant state tax purposes and that the activities of the Company be deemed to be activities of the Member for such purposes. All provisions of the Company’s Certificate of Formation and this Agreement are to be construed so as to preserve that tax status. The Member is hereby authorized to file any necessary elections with any tax authorities and shall be required to file any necessary tax returns on behalf of the Company with any such tax authorities.

  • Income Tax Treatment Employee and the Company acknowledge that it is the intention of the Company to deduct all amounts paid under Section 2 hereof as ordinary and necessary business expenses for income tax purposes. Employee agrees and represents that he will treat all such amounts as required pursuant to all applicable tax laws and regulations, and should he fail to report such amounts as required, he will indemnify and hold the Company harmless from and against any and all taxes, penalties, interest, costs and expenses, including reasonable attorneys' and accounting fees and costs, which are incurred by Company directly or indirectly as a result thereof.

  • Federal Income Tax Matters The Certificateholders acknowledge that it is their intent and that they understand it is the intent of the Depositor and the Servicer that, for purposes of federal income, State and local income and franchise tax and any other income taxes, the Trust will be treated either as a disregarded entity under Treasury Regulation Section 301.7701-3 or as a partnership, and that the Certificateholders will be treated as partners in that partnership. The Certificateholders by acceptance of a Certificate agree to such treatment and agree to take no action inconsistent with such treatment. For each calendar quarter, other than periods in which there is only one Certificateholder:

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