Assume a company has a contingent liability
of $100 million, related to a pending lawsuit.
Control person liability
. Under federal securities laws, if an alliance member is found to control another member, the controlling member may be liable for the controlled member's securities laws violations.
The lender was willing to sell the site at a discount provided the buyer agreed to assume liability
for all cleanup costs and any pollution-related damages or claims.
Thus, for a taxpayer to currently deduct employment taxes on accrued vacation/bonus pay that is paid in the subsequent year, it must meet the all events test and economic performance must have occurred with respect to the liability
. Both Rev.
The scope of a typical employee benefits liability
endorsement is limited to liability
arising out of errors and omissions in the administration of employee benefits programs.
Private companies take on additional liability
risk when they act like their public peers.
(22) </pre> <p>In other words, determining whether the employer can offer a defense to liability
is appropriate may not necessarily hinge on the authority level of the offender.
As a result of skyrocketing D & O insurance premiums, most states enacted "shielding" statutes that limit a director's personal liability
for breaches of duties of care.
Under the proposed Interpretation, a previously recognized tax position that no longer meets the probable recognition threshold would be derecognized by recognizing an income tax liability
or reducing a deferred tax asset in the period in which the enterprise concludes that it is more likely than not that the position will not be sustained on audit.
The AICPA Professional Liability
Insurance Program remains committed to the goals established at its inception.
In addition to providing a mechanism for removing infringing content, the Provider Liability
Law provides that the third party claiming infringement can demand that the TSP disclose identity information about the alleged offender.
"The United States imposes liability
on a manufacturer or company even if the company has shown care," says Sara Schotland, a product liability
lawyer in Washington, D.C.