All Entries — page 6
The full digest in part order. Use the A–Z index to look up a subject by name, or search.
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Insurance
Occurrence and Claims-Made Policies: Why the Trigger Matters
The trigger decides which policy year pays. Occurrence coverage follows the injury; claims-made coverage follows the claim, which makes retroactive dates and tail periods critical.
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Insurance
Other-Insurance Clauses and Coordination Between Policies
Other-insurance clauses decide which of several overlapping policies pays first. When two clauses cancel each other out, courts commonly ignore both and share the loss.
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Insurance
Professional Liability Coverage: Errors, Omissions, and Exclusions
Professional liability coverage answers for negligent acts, errors, and omissions in rendering professional services, subject to exclusions that decide most disputed claims.
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Insurance
Reservation of Rights Letters and What They Preserve
A reservation of rights letter allows an insurer to fund a defense without giving up its coverage defenses, and in many states it hands the insured a right to independent counsel.
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Insurance
Uninsured and Underinsured Motorist Coverage
UM and UIM coverage pays when the at-fault driver has no insurance or not enough. Add-on and offset states calculate the same claim to very different results.
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Tax
Amending a Return and the Refund Statute of Limitations
An amended return is a refund claim, and it is governed by a limitations period that closes on a fixed date and by a lookback rule limiting what can be recovered.
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Tax
Business Expense and Home Office Deductions: Records That Hold Up
A business deduction survives review on documentation, not intent. Section 162 sets the standard for expenses and section 280A governs the home office.
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Tax
Estimated Tax Payments and the Underpayment Penalty
Federal income tax is pay-as-you-go. If withholding does not cover the year's liability, four estimated installments are due, and missing them triggers a penalty computed installment by installment.
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Tax
Federal Tax Liens and Levies: Notice, Appeal, and Release
A federal tax lien attaches by operation of law once tax is assessed, demanded, and unpaid. A levy that seizes property requires separate notice and a hearing right.
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Tax
Innocent Spouse Relief: Separation of Liability and Equitable Relief
A joint return makes both signers liable for the whole tax. Section 6015 provides three routes out, each with its own conditions, its own proof, and its own filing deadline.
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Tax
IRS Examinations: Correspondence, Office, and Field Audits
A federal examination runs in one of three formats — by mail, at an IRS office, or at the taxpayer's premises — and an unagreed outcome moves to Appeals and then to the Tax Court.
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Tax
Offers in Compromise and Installment Agreements
Two ways to resolve a federal tax balance you cannot pay at once: settle it for less through an offer in compromise, or pay it over time under an installment agreement.
