Ashil A determination letter is a letter from the Internal Revenue Service (IRS) that provides official notice that an employer’s retirement plan is in compliance with federal tax law. The determination letter process is voluntary, but many employers choose to submit their plans for review in order to provide employees with the peace of mind that … Read more
Vis Major is a legal term used to describe a sudden and unexpected event that interrupts the normal course of business. This can include natural disasters, accidents, and other unforeseeable events. Businesses may be forced to close or suspend operations due to vis major, and this can lead to financial losses. It is important for … Read more
Reaffirmation is the act of reaffirming a debt. In the context of debt management, reaffirming a debt means that the debtor agrees to continue to be liable for the debt, even though the debt may have been discharged in bankruptcy. Reaffirming a debt is a voluntary act on the part of the debtor, and it … Read more
Gross working capital refers to a company’s current assets minus its current liabilities. The term is used to describe the amount of a company’s cash and other liquid assets that are available to meet its short-term obligations. A company’s current assets include cash, accounts receivable, inventory, and other assets that can be converted into cash … Read more
