filling taxes

[texasproblems]

What is the name of your state? Tx
We filled on Dec 11 and our 341 has been set for Jan. 16. I have been reading in the tax code that we have the option to end our tax year the day prior to the filling. The trustee will then prepare our returns to see our tax liablity for the filling year. We then have to file another return for the period between Dec. 11 and the 31 by the normal filling deadline. Is this normal, or is it done only if we suspect we will quite a bit of taxes for the filling year?

 

[anadude]

the trustee is going to prepare your taxes for you?

 

[HomeGuru]

The Trustee will review not prepare the tax returns.

Or maybe there is a new service in town called H&R Block 7/11.

 

[Elmo-1]

The Trustee would prepare a tax return for any income generated by 'property of the estate' after you file Bk. He also pays any income tax due from file date to the end of the fiscal year. This is rare, but if that property does generate income it's not your problem.

File your taxes as normal and if you're surrendering income-producing property, your end-date would be the date you file Bk. If you have no income-producing 'property of the estate', don't do anything different than what you've done in the past.