Securities and Exchange Commission v. Bank of America, N.A. et al
Filing
55
ORDER granting 54 Motion to Appoint A Tax Administrator. Signed by District Judge Max O. Cogburn, Jr on 10/21/2015. (chh)
IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
CHARLOTTE DIVISION
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.
Civil Action No. 3:13-cv-447
BANK OF AMERICA, N.A., BANC OF
AMERICA MORTGAGE SECURITIES, INC.,
and MERRILL LYNCH, PIERCE, FENNER &
SMITH, INC. f/k/a BANC OF AMERICA
SECURITIES LLC,
Defendants.
ORDER TO APPOINT A TAX ADMINISTRATOR
This matter is before the Court on Plaintiff’s Motion to Appoint a Tax Administrator (the
“Motion”). Having considered the Motion and the record and being otherwise fully advised in
the premises, for good cause shown the Motion is GRANTED.
The Court HEREBY ORDERS AND ADJUDGES as follows:
1. Damasco & Associates LLP is appointed as Tax Administrator to execute all income tax
reporting requirements, including the preparation and filing of tax returns, with respect to
funds under this Court’s jurisdiction in this case (the “Distribution Fund”).
2. Damasco & Associates LLP shall be designated the administrator of the Distribution Fund,
pursuant to section 468B(g) of the Internal Revenue Code (IRC), 26 U.S.C. § 468B(g), and
related regulations, and shall satisfy the administrative requirements imposed by those
regulations, including but not limited to (a) obtaining a taxpayer identification number, (b)
filing applicable federal, state, and local tax returns and paying taxes reported thereon out of
the Distribution Fund, and (c) satisfying any information, reporting, or withholding
requirements imposed on distributions from the Distribution Fund. The Tax Administrator
shall contemporaneously provide copies of all such filings to the Commission’s counsel
of record.
3. The Tax Administrator shall, at such times as the Tax Administrator deems necessary to
fulfill the tax obligations of the Distribution Fund, submit a declaration of the amount of
taxes due to Commission staff. Commission staff is authorized, after its review of
supporting documentation, to approve and arrange payment of all tax obligations owed by
the Distribution Fund directly from the Distribution Fund without further approval of this
Court.
4. The Tax Administrator shall be entitled to charge reasonable fees for tax compliance
services and related expenses in accordance with its agreement with the Commission. The
Tax Administrator shall, at such times as the Tax Administrator deems appropriate, submit
a declaration of fees and expenses to Commission staff. Commission staff is authorized,
after its review of supporting documentation, to approve and arrange payment of all fees
and expenses owed by the Distribution Fund directly from the Distribution Fund without
further approval of this Court.
Signed: October 21, 2015
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