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Level 2
May 3, 2022
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Corporation Chapter 11 filings

  • May 3, 2022
  • 1 reply
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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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Best answer by itonewbie

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

1 reply

itonewbie
itonewbieAnswer
Level 15
May 3, 2022

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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