cpabsd Posted January 29, 2009 Report Posted January 29, 2009 I have never had to deal with the bankruptcy of a coporation. An S corp client of mine is filing in a couple of weeks. They are trying to pay off as much as they can but it is inevitable. Is there anything I need to be aware of as I prepare their 2008 return and plan for the return to be done in 2009? Thanks for any guidance. Quote
TAXBILLY Posted January 29, 2009 Report Posted January 29, 2009 http://www.irs.gov/pub/irs-pdf/p908.pdf taxbilly Quote
ed_accountant Posted January 30, 2009 Report Posted January 30, 2009 Ask for payment of your fee in advance! Try collecting from a bankrupt corporation. Quote
kcjenkins Posted January 31, 2009 Report Posted January 31, 2009 Ed is totally correct. If you do not get paid in advance, you will not get paid, or at best you will be one of the many unsecured creditors. Even the bankruptcy attorney can get caught in that trap if not careful. Quote
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