The notice has to be published in the Gazette and a circulating newspaper in Tanzania.The purpose of the meeting is for determination of an account of winding up report from the liquidator. The Liquidator submits to the members an account of the winding up, showing how the winding up has been conducted and disposal of the assets of the company. This revenue procedure sets forth procedures for issuing determination letters on issues under the jurisdiction of the Director, Exempt Organizations (EO) Rulings and Agreements.Unpublished rulings will not be relied on, used, or cited as precedents by Service personnel in the disposition of other cases.In applying published rulings and procedures, the effect of subsequent legislation, regulations, court decisions, rulings, and procedures must be considered, and Service personnel and others concerned are cautioned against reaching the same conclusions in other cases unless the facts and circumstances are substantially the same.
Specifically, it explains the procedures for issuing determination letters on exempt status (in response to applications for recognition of exemption from Federal income tax under § 501 or § 521 other than those subject to Rev. 2018–4, this Bulletin (relating to pension, profit-sharing, stock bonus, annuity, and employee stock ownership plans)), private foundation status, and other determinations related to exempt organizations.This procedure contains revised procedures for letter rulings and information letters issued by the Associate Chief Counsel (Corporate), Associate Chief Counsel (Financial Institutions and Products), Associate Chief Counsel (Income Tax and Accounting), Associate Chief Counsel (International), Associate Chief Counsel (Passthroughs and Special Industries), Associate Chief Counsel (Procedure and Administration), and Associate Chief Counsel (Tax Exempt and Government Entities). It also explains the rights that a taxpayer has when a field office requests a TAM regarding a tax matter. In those based on positions taken in rulings to taxpayers or technical advice to Service field offices, identifying details and information of a confidential nature are deleted to prevent unwarranted invasions of privacy and to comply with statutory requirements.This procedure also contains revised procedures for determination letters issued by the Large Business and International Division, Small Business/Self Employed Division, Wage and Investment Division, and Tax Exempt and Government Entities Division. Rulings and procedures reported in the Bulletin do not have the force and effect of Treasury Department Regulations, but they may be used as precedents.Dissolution refers to the act of bringing to an end the existence of a company.It is an event which immediately follows liquidation or winding up of a company. Expiration of the period fixed by the articles or occurrence of the event which the articles provide for expiration upon its occurrence followed by a resolution for voluntary winding up. Passing of a resolution that the company be wound up voluntarily. Passing of a special resolution to the effect that the company, by reason of its liabilities, cannot continue its business and that it is advisable to wind it up.7.0 The Corporate Department at Breakthrough Attorneys recommends companies in insolvent situations to opt for voluntary winding up instead of compulsory winding up by the Court.This is because Directors will be exonerated from liability for wrongful trading under Section 384 (1) of the This Section applies to Directors who continue doing business in an insolvent Company.Also included in this part are Bank Secrecy Act Administrative Rulings.Bank Secrecy Act Administrative Rulings are issued by the Department of the Treasury’s Office of the Assistant Secretary (Enforcement). Finally, this revenue procedure provides guidance on applicable user fees for requesting determination letters. This revenue procedure also provides guidance on the exhaustion of administrative remedies for purposes of declaratory judgment under § 7428.