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Dividing debt during a divorce can be as challenging as separating assets, and it requires a clear understanding of state laws, the nature of the debt and each spouse’s financial situation.
About 14,000 borrowers were still responsible for spousal debt even after divorce as a result of joint loan consolidation, according to an NPR investigation. But last year, Congress passed the ...
Tax debt forgiveness may have implications for future tax filings, and forgiven debt may be considered taxable income. Engaging with the IRS can be complex and time-consuming.
Such liability provides a strong disincentive for the best potential directors to serve on the board, and one would expect such a disincentive to result in worse corporate governance. The decision has also been derided as the "Investment Banker's Relief Act of 1985" because of all the business it has generated for investment bankers from boards ...
Corporations exist in part to shield the personal assets of shareholders from personal liability for the debts or actions of a corporation. Unlike a general partnership or sole proprietorship in which the owner could be held responsible for all the debts of the company, a corporation traditionally limited the personal liability of the shareholders.
General partner is a person who joins with at least one other person to form a business. A general partner has responsibility for the actions of the business, can legally bind the business and is personally liable for all the partnership's debts and obligations.
Checkbox indicating if you were personally liable for the forgiven debt (Line 5) Event code identifier or the reason for the filing (Line 6) Fair market value of the property (if applicable) (Line 7)
Directors and officers liability insurance (also written directors' and officers' liability insurance; [1] often called D&O) is liability insurance payable to the directors and officers of a company, or to the organization itself, as indemnification (reimbursement) for losses or advancement of defense costs in the event an insured suffers such a loss as a result of a legal action brought for ...