17, 2001 and such late filing and payment will be considered due to
reasonable cause so that late filing or late payment penalties will not be imposed.
Due to a sharp drop in projected sales revenue for 2002, XYZ expects to incur a large NOL.
Due to a sharp drop in 2002 projected sales revenue, XYZ expects to incur a large current-year NOL that will generate a $350,000 tax savings if it carries back the NOL.
If the taxpayer exercised ordinary business care and prudence and was nevertheless unable to file the return within the prescribed time, then the delay is due to reasonable cause.
It must appear that substantial financial loss, for example, loss due to the sale of property at a sacrifice price, will result to the taxpayer for making payment on the due date of the amount with respect to which the extension is desired.
The act (or failure to act) giving rise to losses due to
liabilities arising under Federal or state law must have occurred at least three years before the tax year, and the taxpayer must have been using the accrual method of accounting at the time.
Ex-fuel, unit costs rose due to
increased headcount, higher airport fees, and higher fleet related expenses resulting from a larger fleet.
Sales in Internal Combustion Engine and Machinery were almost same level from the corresponding period in the prior year due to
sales downturn of tractor and other farm machinery.
Although not wholly owned, Fitch considers NFS to be a strategic operation for Nationwide Mutual due to
NFS' relative capital size and earnings contribution to the overall organization.
Fitch believes that MMC suffered a material decline in its franchise value as a result of these allegations, in addition to reputation issues suffered in its Putnam investment unit due to
improper trading practices.
However, even if the impact of any such restatements is not material, the Negative Rating Watch may continue to be maintained due to
the uncertainty surrounding the ongoing investigations.
Baker Street pays the swap counterparty for any losses due to
credit events experienced in the portfolio above the first loss amount for each class up to the balance on the notes by liquidating collateral.
Debt grew steadily over the past ten years due to
significant modernization and divestiture programs aimed at converting the majority of AMC's theatres to state-of-the-art megaplexes.
The decline in voice service revenue is occurring due to
ongoing technology and wireless substitution as well as increased pressure from cable operators rolling out telephony service.