BBBY Diskussion "i didn't hear no bell" Forum: Community User: Moowalker

Docket 1534 Seite 6 2023 Tax Engagement Letter. Pursuant to the terms and conditions of the 2023 Tax Engagement Letter, Deloitte Tax will assist the Debtors with preparing the federal, state, local, and international tax returns, as detailed therein. Such services include Deloitte Tax assisting the Debtors by preparing the 2022 and 2023 federal, state, and local income tax returns identified in Exhibit A attached thereto. In addition, Deloitte Tax will assist in calculating the amount of extension payments and preparing the extension requests for 2022 and 2023 federal, state, local, and international income tax returns, as well as assisting in calculating 2023 and 2024 quarterly estimated tax payments as needed. Deloitte Tax will also provide certain business personal property tax renditions identified in Exhibit C to the 2023 Tax Compliance Engagement Letter, as well as U.S. State and local sales and use tax preparation services for the Debtors, where such returns are identified in Exhibit E to the letter. Further, Deloitte Tax will assist the Debtors in providing certain Canadian indirect tax return preparation services. Lastly, Deloitte Tax will provide tax advisory services in connection with the calculation of the Debtors' income tax provision under the provisions of ASC 740 for the interim and the fiscal year-end periods May 28, 2023 through February 25, 2025. Lastly, Deloitte Tax will provide tax advisory services for ongoing business as well as services related to potential dispositions and other bankruptcy matters, as requested by the Debtors. In order to perform certain services under the 2023 Tax Engagement Letter, Deloitte Tax has engaged the DTTL, Member Firm located in Canada ("Deloitte Canada") as a subcontractor under the terms of such letter to assist with certain of these services. 2) Tax Restructuring Engagement Letter. Pursuant to the terms and conditions of the Tax Restructuring Engagement Letter. Deloitte Tax will provide tax advisory services in connection with the Debtors' restructuring, as follows: a) advise the Debtors as they consult with its legal and financial advisors on the cash tax effects of restructuring, bankruptcy, and the post-restructuring tax profile, including transaction costs and/or plan of reorganization tax costs, and the cash tax effects of the Chapter 11 Cases and emergence transaction, including obtaining an understanding of the Debtors financial advisors valuation model to consider the tax assumptions contained therein; advise the Debtors regarding the restructuring and bankruptcy emergence process from a tax perspective, including analyzing various structuring alternatives and modification of debt: b) advise the Debtors on the cancellation of indebtedness income for tax purposes under Internal Revenue Code ("IRC") section 108, including cancellation of debt income generated from a restructuring, bankruptcy emergence transaction, and/or modification of the debt; advise the Debtors on post-restructuring tax attributes and post-bankruptcy tax attributes (tax basis in assets, tax basis in subsidiary stock and net)