irs code section for corporate dissolutions
IRS Filing Requirements. IRS Regulation 4.11.7 outlines filing requirements and defines corporate responsibilities for recognizing gains or losses on the liquidation of each business asset. For example, IRS Form 966, Corporate Dissolution or Liquidation, must be filed within 30 days of filing the initial articles of dissolution. Shareholders receiving distributions of $600 or more in a calendar year must receive a 1099-DIV.