Company has yet to give me my schedule K-1 and I no longer work there, and they wont talk to me.?

Question

What are some things I can do to get them to GIVE me my forms. I do not want to file for an extension or file and then amend. I owned this business then sold it and they fired me. but i still need to claim for 1st quarter.. sooo what can I do

Answer 1

Im confused. You mentioned that you owned the business. Were you a sole proprietor? If so, you would report the amount of income and expenses on Schedule C of your tax return while you owned the business. You are responsible for having this information. If you sold this business you wouldnt receive a K-1.

If you sold this business in 2006 you would have to report the sale on your tax return.

You wouldnt receive a K-1 unless you were a partner in a partnership or shareholder of a corporation. But you mentioned you were fired, as if you were an employee. If they kept you on as an employee, then you should have received a W-2, or a 1099 if you were a consultant.

Answer 2

If you were the sole owner of the company you will not receive a K-1. Those are used to show the share of income and expenses for partnerships, etc.

Since you sold the company, you were the owner prior to the sale and will file your income for that just as you did in prior years. Needless to say you only claim the income and expenses up to the date of the sale. If you filed Schedule C previously, that's what you'll file. If it was an S-Corp, you'll file a Form 1120S for the business activity for the first quarter and pass the income through to your Form 1040 just as you did previously.

Once you became an employee, the wages paid to you are reported on Form W-2 that should have been given to you by 1/31/07.

Answer 3

first determine the actual law that may apply to the companies legal requirement for provision of this form to you. Then call again and speak to the main person responsible , like the accountant specifically.
When you have this person on the phone tell them you are demanding the form be provided to you and then email a request, send a written request and get it certified return reciept requested for your records. JKeep copies of everything, every phone cxall every person talked to and every letter sent. then if the do not comply roast them.

Answer 4

unfortunately you have then to estimate your earnings yourself. call IRS and explain the situation. They will say the same to you that this is your responsibility to eastimate your earnings. However, they might send notice to the company which will enforce to issue K1 since this is companies responsibility to do so

Answer 5

Get a lawyer friend of yours to write a letter with very nice letterhead. That will get their attention. You may not want to spend the $300 to get that letter written, but it WILL work

Answer 6

SUE!!!