Tax Shelters. Employees are entitled to participate in shelters to reduce their taxable income. Employees may select from among the plans made available.
Tax Shelters. The Company has not entered into any transaction identified as a “listed transaction” for purposes of Treasury Regulations Sections 1.6011-4(b)(2) or 301.6111-2(b)(2). If the Company has entered into any transaction such that, if the treatment claimed by it were to be disallowed, the transaction would constitute a substantial understatement of federal income tax within the meaning of Section 6662 of the Code, then it believes that it has either (x) substantial authority for the tax treatment of such transaction or (y) disclosed on its Tax Return the relevant facts affecting the tax treatment of such transaction.
Tax Shelters. Neither the Company nor any Company Subsidiary has entered into any transaction identified as a “listed transaction” for purposes of Treasury Regulations Sections 1.6011-4(b)(2) or 301.6111-2(b)(2).
Tax Shelters. None of the Acquired Corporations has participated in any transaction that is either a “listed transaction” or that the Acquired Corporation believes in good faith is a “reportable transaction” or a “transaction of interest” (all as defined in Treas. Reg. § 1.6011-4).
Tax Shelters. No Acquired Company has consummated or participated in, or is currently participating in any transaction which was or is a “Tax shelter” transaction as defined in Sections 6662 or 6111 of the Code or the Treasury Regulations promulgated thereunder. Each Acquired Company has not participated in, and is not currently participating in, a “Listed Transaction” or a “Reportable Transaction” within the meaning of Section 6707A(c) of the Code or Treasury Regulation Section 1.6011-4(b), or any transaction requiring disclosure under a corresponding or similar provision of state, local, or foreign law.
Tax Shelters. None of the Acquired Companies has consummated or participated in, or is currently participating in, any transaction which was or is a “Tax shelter” transaction, as defined in Sections 6662 or Section 6111 of the Code or the Treasury Regulations promulgated thereunder. None of the Acquired Companies has participated in, or is currently participating in, a “Listed Transaction” or a “Reportable Transaction” within the meaning of Section 6707A(c) of the Code or Treasury Regulation Section 1.6011-4(b), or any transaction requiring disclosure under a corresponding or similar provision of state, local or foreign law.
Tax Shelters. Section 506 of the Tax Extenders and Alternative Minimum Tax Relief Act of 2008 requires our firm, as tax return preparers, to conform to a higher standard than the taxpayer when an undisclosed tax position is related to a tax shelter as defined in IRC §6662(d)(2)(C)(ii), Imposition of Accuracy-Related Penalty on Underpayments, or a reportable transaction to which IRC §6662A, Imposition of Accuracy-Related Penalty on Understatements with Respect to Reportable Transactions, applies. This higher standard requires the preparer to have a reasonable belief that the undisclosed tax position would more likely than not be sustained on its merits if challenged by the IRS, and that there be a reasonable basis for the tax treatment. We may have to spend additional time preparing your return due to the research and analysis necessary to meet the standard. Accordingly, by executing this Agreement, you acknowledge that you are aware of this difference in standards, and consent to our preparation of your federal tax return in accordance with the standards applicable to our firm as tax preparers. Client Responsibilities & Documentation You are responsible for providing and maintaining adequate documentation to substantiate the accuracy and completeness of your tax returns. You should retain all documents that provide evidence and support for reported income, credits, and deductions on your returns, as required under applicable tax laws and regulations. You are responsible for the adequacy of all information provided in such documents. You represent that you have such documentation and can produce it, if necessary, to respond to any audit or inquiry by tax authorities. You agree to hold our firm harmless from any liability including but not limited to, additional tax, penalties, interest and professional fees resulting from the disallowance of tax deductions due to inadequate documentation.
Tax Shelters. The Company has not entered into any transaction identified as a “reportable transaction” or a “listed transaction” for purposes of Treasury Regulations Sections 1.6011-4(b) or 301.6111-2(b).
Tax Shelters. Neither the Parent nor any of its Subsidiaries has participated in any transaction that is either a “listed transaction” or that the Parent believes in good faith is a “reportable transaction” or a “transaction of interest” (all as defined in Treas. Reg. § 1.6011-4).
Tax Shelters. Payroll Deductions Fifteen (15) or more teachers must request that a company be added to the list of vendors. As part of that request, each employee must submit a copy of the contract executed between the employee and the potential vendor used to create a tax sheltered annuity account. That vendor must then sign an Information Sharing Agreement with the third-party administrator (TPA) charged with administration of the tax sheltered annuity plans. When the Information Sharing Agreement is executed by both the vendor and District 204, that vendor then joins the list of eligible vendors. The Board will make the necessary deductions from each employee’s paycheck. Under normal circumstances, the TPA will receive the employee payroll deductions via wire transfer on the same day employee paychecks are issued.
