A client died in Nov 05. His wife has been handling the corp since then. Well I say handle it she was writing a check if needed and deposits. This was just a one shareholder c-corp. His widow is waiting on one more check from a customer. A very large payment. All expenses were paid off this month. This included the C-Corp 2005 tax return/taxes.
My question is should the C-Corp dissolve now or wait until the last payment/income is received? It says in TTB that a complete liquidation can occur even through the coporoation retains a small amount of assets to settle final costs. But since they are still due money I am not sure weather it should close or not.
The corp also got a card to renew its annual registration with the state... should this be renewed?
Plus I assume that the widow can sign the coprorate tax returns since she is the execuator of his estate.... correct?
Sorry for so many questions
My question is should the C-Corp dissolve now or wait until the last payment/income is received? It says in TTB that a complete liquidation can occur even through the coporoation retains a small amount of assets to settle final costs. But since they are still due money I am not sure weather it should close or not.
The corp also got a card to renew its annual registration with the state... should this be renewed?
Plus I assume that the widow can sign the coprorate tax returns since she is the execuator of his estate.... correct?
Sorry for so many questions
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