dmorris799
Feb 14, 2013, 01:21 AM
Jugement was obtained sometime in 08 or 09. Started as 1099 employee in 2007 under S Corp. S Corp was established and approved in 1993. Had very little activity and was dormant until 2007 when I started using it as 1099 employee.
In 2011, started private practice again under S Corp. Last year I sought our CPA assistant and as it turns out, I have filed using Schedule C vs 1120S. My CPA is assisting me in amendents,etc. and getting things up to a bona fide state. My status of 1099 will still be in effect up to the 2011 transition to W2 so I don't know what this means for the garnishment part (1099 vs W2).
Long story short, S Corp bank account was garnished two days ago, in addition to my personal bank account. I just read the article about piercing the corporate veil and I'm wondering if I may have any recourse to having the funds return via motion to quash. Who bears the burden of proof re: the conduct of corporate affairs in cases like this? What options do I have?
From the scenario, gross negligence is obvious mostly out of confusion and ignorance of "the governance" aspect.
In 2011, started private practice again under S Corp. Last year I sought our CPA assistant and as it turns out, I have filed using Schedule C vs 1120S. My CPA is assisting me in amendents,etc. and getting things up to a bona fide state. My status of 1099 will still be in effect up to the 2011 transition to W2 so I don't know what this means for the garnishment part (1099 vs W2).
Long story short, S Corp bank account was garnished two days ago, in addition to my personal bank account. I just read the article about piercing the corporate veil and I'm wondering if I may have any recourse to having the funds return via motion to quash. Who bears the burden of proof re: the conduct of corporate affairs in cases like this? What options do I have?
From the scenario, gross negligence is obvious mostly out of confusion and ignorance of "the governance" aspect.