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Issuance of 1099's and W-2s for Corporate Chapter 7
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Where there is a fee, there is a way. Where there is no fee, there is no way and no justice.
Elmer Dean Martin III
P. O. Box 4670
Diamond Bar, CA 91765
909 861 6700
elmer@bankruptcytax.net
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Thank you for this email. This just proves my point that it is almost NEVER
a good idea to file a Chapter 7 for a corporation!!!!!
David A. Tilem
Certified Bankruptcy Specialist*
Law Offices of David A. Tilem (a debt relief agency)
206 N. Jackson Street, #201, Glendale, CA 91206
Tel: 818-507-6000 Fax: 818-507-6800
* Bankruptcy specialist cert. by State Bar of CA Bd of Legal
Specialization.
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Corporation ceased operations other than CEO trying to liquidate assets
and pay bills. Corp files Chapter 7 in face of creditor litigation so
that assets can be orderly distributed. All operations ceased.
Vendors and employees were paid during the last year. 1099's and W-2s
are supposed to be issued by January 31.
Question
1. Is it the Chapter 7 Trustee's responsibility to issue the 1099's
and W-2s if he is still determinining whether he wants to administer
the estate? He took all the corporate records.
2. I do not see how anyone else would have authority to issue the tax
documents unless the trustee gave permission to act on his behalf. Am
I wrong?
3. What if any liability would there be for corporate
officers/directors if the trustee does not issue the 1099's and W-2s
and later decides not to administer the estate?
Mark Jessee
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