Printer Friendly

MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST ANNOUNCES IRS DISALLOWANCE, APPEAL AND EXTENSION OF TRUST

 NEW YORK, May 11 /PRNewswire/ -- The trustees of the Management Assistance Inc. Liquidating Trust (the Trust) announced today that the Internal Revenue Service (the Service) has, as a result of its review process, disallowed an expense which reduces the refund due for the 1984 tax year by $229,000. The disallowance could also create tax obligations in various states of about $140,000 plus interest. The trustees believe the deduction should be allowed and will appeal to the Service's appeals office. This process could extend the period of time before the case is presented for Joint Committee review and final resolution. Accordingly the Service requested and the Trust agreed to an extension to Sept. 30, 1994, the period by which the Service can assess tax regarding Management Assistance Inc.'s tax years 1984, 1985 and 1986. The trustees further stated that because of the extension, they will, as permitted under the Trust Agreement, extend the duration of the Trust to Jan. 9, 1995, subject to sooner termination should all Trust matters be resolved earlier.
 -0- 5/11/93
 /CONTACT: Daniel R. Kail, managing trustee of Management Assistance Inc., Liquidating Trust, 212-826-3666/


CO: Management Assistance Inc. Liquidating Trust ST: New York IN: SU:

TS-KW -- NY094 -- 7230 05/11/93 16:29 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 11, 1993
Words:211
Previous Article:CB BANCSHARES, INC. 1993 ANNUAL MEETING SHAREHOLDERS AMEND ARTICLES OF INCORPORATION
Next Article:HBO & COMPANY RE-ELECTS BOARD OF DIRECTORS; QUARTERLY DIVIDEND DECLARED
Topics:


Related Articles
MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST ANNOUNCES RESULTS OF IRS EXAMINATION
MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST REPORTS FIRST QUARTER RESULTS
MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST ANNOUNCES FAVORABLE JOINT COMMITTEE REVIEW
MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST REPORTS YEAR-END RESULTS AND DISTRIBUTION
MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST ANNOUNCES FEDERAL INCOME TAX REFUND
MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST ANNOUNCES NOTIFICATION OF ADDITIONAL FEDERAL INCOME TAX REFUND
MANAGEMENT ASSISTANCE INC. LIQUIDATING TRUST ANNOUNCES FEDERAL INCOME TAX REFUND
Management Assistance Inc. Liquidating Trust Announces Trust Extension and Distribution
FirstCity Liquidating Trust Announces First Quarter 1997 Results
FirstCity Liquidating Trust Announces Second Quarter 1997 Results

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters