Write a letter to brian in the required format

Reference no: EM132082257

Question: Tri-State Chemical Company manufactured different types of farming pesticides. Over the course of several years, the toxic waste contaminated the air and water around the area where the plant conducted business. Several employees suffered toxic poisoning and the Environmental Protection Agency (EPA) cited the company for violations.

In court, the judge found Gray guilty and imposed fines of $20 million dollars. Tri-State Chemical Company voluntarily set up a charitable fund for the purpose of bettering the environment and funded it with $10 million dollars. The company incurred legal expenses in setting up the foundation and defending itself in court. The court reduced the fine from $20 million to $12 million.

Tri-State Chemical Company deducted the $10 million paid to the foundation and the legal expenses incurred. The IRS disallowed both deductions on grounds that the payment was, in fact, a fine and violation of public policy.

Tri-States' president, Brian Teller, has contacted you regarding the deductibility of the $10 million dollar payment, $12 million dollar fine, and legal fees. Write a letter to Brian in the required format with your answers to the deductibility of the costs incurred. Brian's address is 8600 River Valley Road, Evansville, IN 47711

Reference no: EM132082257

Questions Cloud

The important security management requirements : Discuss what you feel are the important security management requirements that should be incorporated into a total security management program.

Weight of the rod and empty buckets : The weight of the rod and empty buckets are negligible compared to the weight of the water. Which bucket holds more water?

Explain the concept that the ntsb is independent : Apply historical concepts of accident investigations that led to modern techniques, current regulation, and scope of aircraft accident investigation.

Briefly explain your current or previous work position : Very briefly explain your current or a previous work position. What changes to the way performance is measured do you suggest?

Write a letter to brian in the required format : Tri-States' president, Brian Teller, has contacted you regarding the deductibility of the $10 million dollar payment, $12 million dollar fine, and legal fees.

What is the efficiency of the engine : In one cycle, a heat engine does 380 J of work and releases 700 J of heat to a lower-temperature reservoir.

Design an effective communications strategy : Design an effective communications strategy that conveys the nonprofit mission to specific internal and external audiences.

Average velocity vrms equal to the moon escape velocity : At what temperature would hydrogen molecules (molecular mass is equal to 2.016 g/mol) have an average velocity Vrms equal to the Moon's escape velocity?

Why will it be important to engage in systems thinking : As a future manager, why will it be important to engage in systems thinking? How do information systems help organizations?

User Account

All Pages