IRS Procedures that May Save you Money
Litigation Reports
Many companies are experiencing a downturn in business because of the deepening economic crisis. Corporations suffering in today’s difficult business environment may have an immediate need for funds for various purposes, including continued operations, meeting payroll or complying with credit covenants. Even corporations on solid ground may need funds to take advantage of business opportunities or solidify their base. Grant Thornton LLP has developed the summary document, IRS procedures offer relief to cash-starved businesses, to share information on procedures - already available under the Internal Revenue Code (IRC) - that may allow corporations to receive refunds quickly or defer payment of tax.
“Since tax, in its various forms, is usually one of the biggest overhead costs in business, it is important for corporations to look carefully at how to manage that cost and its impact on cash flow,” said Rob Byrd, Tax partner in Grant Thornton’s Charlotte office. “While the Treasury and Congress have provided relief in the form of new guidance and legislation, corporations should also be aware of what’s already out there to help them. If a corporation qualifies for one of these procedures, there should be no reason to wait to get cash in hand or defer payment. Taking advantage of the administrative relief provided by the Internal Revenue Service can only help to improve liquidity.”
To read Grant Thornton’s IRS procedures offer relief to cash-starved businesses, please go to www.GrantThornton.com/tax.
About Grant Thornton LLP
The people in the independent firms of Grant Thornton International Ltd provide personalized attention and the highest quality service to public and private clients in more than 100 countries. Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations. Grant Thornton International Ltd and its member firms are not a worldwide partnership, as each member firm is a separate and distinct legal entity.
In the U.S., visit Grant Thornton LLP at www.GrantThornton.com.
Related listings
-
Turkey Stole Insurance Money From Genocide Victims
Litigation Reports 09/17/2008After killing an estimated 1.5 million Armenians during World War I, the government of Turkey had the nerve to demand the benefits from its victims' insurance policies, the victims' descendants say in a class action against four British insurance com...
-
Receiver Says Moviemaker Defrauded Bayou Hedge Fund
Litigation Reports 09/16/2008Kroll Inc., the court-appointed receiver for the defunct Bayou Hedge Fund, sued movie producer Steven Brown, claiming he used more than $3 million that should have gone to repay Bayou's investment in a new movie. Kroll also sued the attorney who help...
-
Bear Stearns Will Pay $28 Million
Litigation Reports 09/10/2008Bear Stearns and subsidiary EMC Mortgage on Tuesday agreed to pay $28 million in settlement with the Federal Trade Commission, on charges of defrauding tens of thousands of home loan customers and violating four sets of federal laws. "The companies v...
Victorville CA DUI Lawyers - Drunk Driving Defense Attorney
The outcome of a DUI defense will have a long-term effect on anyone’s life, making the decision to receive legal representation an easy one. The fact is, most people accused of a DUI are first offenders with no criminal background. Whether this is your first run in with the law or you have had previous convictions, you are in need of a DUI defense attorney.
If you fail a sobriety test or have a blood alcohol level above 0.8%, you are considered to be driving under the influence in which you will be arrested. During this time you will be read your Miranda rights and it is crucial to exercise your right to remain silent. As they say, “anything you say can and will be held against you in court.” The courtroom takes no mercy on drunk drivers and any statement you make during your arrest will only damage your case.
The charges you are facing for a DUI range from fines, a 12-month suspension on your license and worst-case scenario, prison time. Your attorney will be able to analyze your situation to decide the best way to go about your case.
Our Victorville CA DUI defense attorneys know the tricky ways to challenge all of the DUI tests and know how to claim improper collection of evidence. We will be able to negotiate on your behalf and free you from charges and help you keep your drivers license. The DUI process can last up to several months, we can make this process easier on you.