nicksc2009
Junior Member
What is the name of your state (only U.S. law)? NJ
I sold my buisness is 2006. As aresult of the sale a last minuite forgiveness of debt was needed. One of the debtors forgave some debt. The transaction was completeted on Jan 1 2006 and all the money was transfered to the new companies account(Parent) the New parent company transferred money to the new (Child) account. From the child account money was transferred to the debtors to complete the deal. Would I still be responsible for the debt forgiveness?
I now work for this company and as part of the agreement of sale was to file form 8594 for price allocation. I have never been able to get this document from them in order to file correctly. If they did not file is this a breech of contract?
I sold my buisness is 2006. As aresult of the sale a last minuite forgiveness of debt was needed. One of the debtors forgave some debt. The transaction was completeted on Jan 1 2006 and all the money was transfered to the new companies account(Parent) the New parent company transferred money to the new (Child) account. From the child account money was transferred to the debtors to complete the deal. Would I still be responsible for the debt forgiveness?
I now work for this company and as part of the agreement of sale was to file form 8594 for price allocation. I have never been able to get this document from them in order to file correctly. If they did not file is this a breech of contract?