Nils Corporation, a calendar year taxpayer, adopts a plan of liquidation on April 1 of the current year The final liquidating distribution occurs on January 5 of next year Must Nils Corporation file a tax return for the current year For next year ...

Nils Corporation must file federal income ...

Nils Corporation, a calendar year taxpayer, adopts a plan of liquidation on April 1 of the current

Question:

Nils a calendar year taxpayer, adopts a plan of on April 1 of the current year. The final liquidating occurs on January 5 of next year. Must Nils file a tax return for the current year? For next year?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most... Liquidation
Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due....