ramraor
Level 2
05-03-2022
08:27 AM
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Tax reporting requirements for a Chapter 11 debtor ( corporation) - whether it has file twice Tax returns -
once when the Chapter 11 is accepted in the middle of fiscal year and 2nd at the end of fiscal year filings - In short whether there is a need to file twice Corporation Tax returns or not?
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itonewbie
Level 15
05-03-2022
11:27 AM
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Re-org issues aside, the corporation's tax year continues regardless of Chapter 11. Unlike individuals, there is no election for short tax year. You may like to refer to Pub 908 for reference if you haven't already:
https://www.irs.gov/publications/p908#en_US_202202_publink1000273351
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