Tax Penalty definition

Tax Penalty means, with respect to the Tax Verdict, liability of the Company as civil defendant with respect to the Tax Evasion Case for a monetary penalty of approximately US$18.2 million.
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Tax Penalty means the late filing penalty charged by the Internal Revenue Service for late filing of the partnership tax return, which, according to a notice dated August 12, 2013 and addressed to the Company, was $9,360 as of the date of such notice.
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Examples of Tax Penalty in a sentence

  • Tax Penalty for Early Distribution If your certificate of deposit is in a retirement account, there may be a tax penalty for early distribution under IRS regulations.

  • Tax Penalty for Early Distribution If your certificate of deposit is in a retirement Account, there may be a tax penalty for early distribution under IRS regulations.

  • To the extent required in order to avoid any Tax Penalty, amounts that would otherwise be payable and benefits that would otherwise be provided pursuant to this letter agreement during the six-month period immediately following Chairman’s separation from service shall instead be paid on the first business day after the date that is six months following Chairman’s separation from service (or death, if earlier).

  • If the Accounting Firm determines that no Tax Penalty would be imposed, the Successor and the Employee shall use their best efforts to ensure that the Accounting Firm furnishes both the Employee and the Successor with an unqualified opinion to that effect.

  • As of this date, we believe resolution of this Proposed Tax Penalty would be for a non-material amount.

  • In the event that the Tax Penalty is reduced or waived, the excess of the Tax Penalty Reserve less the amount actually paid to the Internal Revenue Service and all other costs incurred by the Company in disputing and resolving the matter shall be used in the business of the Avcom Assets.

  • The Tax Penalty Subclass includes those who incurred a penalty under the ACA’s individual mandate as a result of purchasing the LBIPs, which do not qualify for a tax exemption like an ACA-compliant plan does.

  • All Parties hereby acknowledge the payment, receipt and sufficiency of the cash payment of Forty Seven Thousand Four Hundred Forty-Eight and 49/100 Dollars ($47,448.49) from the Escrow Fund in full and complete satisfaction of the Tax Penalty Claim.

  • Tax Penalty (November 1): If payment has not been made to the Utility by November 1, an additional penalty of 10% of the past due amounts of each utility category (Water and/or Sanitary Sewer), and will be added to the amount owed.

  • To the extent required in order to avoid any Tax Penalty, amounts that otherwise would be payable and benefits that otherwise would be provided pursuant to this Agreement during the six-month (6) period immediately following the Executive’s separation from service shall instead be paid on the first business day after the date that is six months following the Executive’s separation from service (or death, if earlier).

Related to Tax Penalty

  • State premium tax liability means any liability

  • PAGA Penalties means the total amount of PAGA civil penalties to be paid from the Gross Settlement Amount, allocated seventy-five percent (75%) to the LWDA and the twenty-five percent (25%) to the Aggrieved Employees in settlement of PAGA claims.

  • Statutory Penalties are those amounts awarded as a penalty, but are fixed in amount by statute.

  • Tax Period means, with respect to any Tax, the period for which the Tax is reported as provided under the Code or other applicable Tax Law.

  • Civil penalty means the payment Licensee has agreed to pay to the United States Treasury;