A a small (less than $5m anl sales) c corp has been filing w/a fiscal year calandar...Over the past 5 years. It was bought out last month by a larger corp who now wants to change the filing period to a normal calandar, to fit in with all the other corps held by this parent corp. Do I just file the 1128 form?
"~^ beancounter ~^" wrote
You'll have to file a short-year return, after approval, from the end of their FY to December 31 of that year. So, regular FY return from July through June (as an example). Get approval to change year-ends. File short year from July through December. Then go calendar year-end after that.
thanx (again) Paul....
Paul Thomas, CPA wrote:
"~^ beancounter ~^" wrote
No prob.......just trying my best to build a book of "accounting" chatter to keep the whiners at bay.
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