These include entering into an installment agreement with the IRS, making an OIC for the liability, or having the account put into "uncollectible
" status if the taxpayer cannot pay the liability.
During the deregulation of margins on HSD last December, the advance tax collection on the commodity was discussed with the FBR since the end price would differ and hence tax under section 156A is uncollectible
Apart from the all-time high gross gaming revenues (GGR) registered across all segments, Bloomberry's first quarter profitability was enhanced by P738 million in foreign exchange gains as well as lower promotional allowance and contra account margin, such as allowance for uncollectible
Securitization of Reinsurance Recoverables: Insurance and reinsurance companies have been finding alternative ways to reduce their exposure to uncollectible
recoverables and reduce the concentration risk associated with ceded exposures.
Gamco Asset Management , founded by investor Mario Gabelli , filed suit in Delaware Chancery Court alleging that an agreement routing daily Clear Channel Outdoor revenue to iHeart leaves it with a "virtually uncollectible
receivable" from its parent company of $640 million.
We only consider a debt uncollectible
where we have exhausted all our legal options or where we know pursuing the debt would place a resident in extreme financial hardship.
Beograd: In order to ensure that the public is objectively and fully informed about non-performing loans in the Serbian banking sector, which has recently been a topic of numerous media reports, the NBS draws attention to the imprecise use of the terms non-performing and uncollectible
Industry-wide, banks had classified USD1.1bn worth of auto loans as uncollectible
in the fourth quarter.
In addition, AMAC management does not have write-down policies and procedures for expired and uncollectible
restitution orders, and has no policies and/or procedures in place for the restitution process at the onset of the review, the report said.
The Louisiana Legislative Auditor's report says failure to establish adequate collection procedures increases the risk that the accounts will become uncollectible
the IRS may be missing opportunities to collect delinquent taxes because it is not always completely researching cases before closing them as uncollectible
. If an IRS employee is unable to contact or unable to locate (UTC/UTL) a delinquent taxpayer.