B
Black
Guest
When an S Corp is sold/taken over...are the proceeds split amongst the shareholders? In the absence of any company meetings can the recipients of the K1s who, per their K1s only, hold a percentage share of the company..expect to receive that same percentage of the proceeds? Can the company at the 11th hour file an amended tax return and "take back" the k1s and any rights they may imply- from the employees who were issued the K1s. The employees were granted their %age share when losses were on the table but now there are significant proceeds the other shareholders want to revoke the employees k1s. Can they do that?
Any response gratefully received.
Disillusioned.
Any response gratefully received.
Disillusioned.