Thus, taxpayers may accelerate the deduction for some portion of the
bad-debt reserve if entries to the allowance account are accompanied by contemporaneous documentation indicating that the allowance is intended to reflect the partial worthlessness of specifically identifiable business
bad debts occurring within the tax year.
The
bad news is apparently she really believes the crap in her new book and there's plenty more where that came from.
Despite good internal controls and training, most of America's largest insurance companies eventually face
bad faith allegations.
A recent round of Japanese official explanations of the task was framed in a three-year, seven-year plan, with half the currently assessed
bad debts resolved in the first three years, and the rest later.
In LaFrance's experiment, the dependent variable was a change in attitude--whether the person felt less smart, less sociable, and embarrassed as a result of his or her own perception of having
bad hair.
preachers, we can all lament straight-white-male dominance and other oppressive European inventions, but it's hard to swallow the claim either that being
bad is politically correct or that political correctness is a major component of being
bad.
In bankruptcy proceedings, just as in nonbankruptcy proceedings, the burden of proving a deduction for
bad debts is on the taxpayer.
Courts, however, will differ in their willingness to accept inferences of
bad faith.
Even in family situations, if the parties' actions show that there was an actual intent to repay the loan and failure to do so was due to the eventual distressed financial condition of the borrower, a nonbusiness
bad debt can be claimed; see Bowman, TC Memo 1995-259.
Mitro claimed that, since she had already provided statements under oath prior to the institution of her lawsuit against Allstate, Allstate's requests for additional sworn statements after the lawsuit commenced were in
bad faith.
If, at the time of worthlessness, it is "proximate" to the conduct of the trade or business, the debt will qualify as a business
bad debt under Regs.
A business
bad debt is a loss from a debt created or acquired in connection with a taxpayer's trade or business.
