Tax Forms update

 

May 20, 2020

IMPORTANT UPDATE REGARDING YOUR 2019 INCOME TAX RETURNS

Dear Holder of a Liquidation Trust Interest:
On February 3, 2020, Woodbridge Liquidation Trust (the “Trust”) posted a bulletin on its
website outlining the federal and state income tax treatment of beneficiaries of the Trust. If you have general questions about the taxation of liquidating trusts, I would encourage you and your tax accountants to refer to this February 3, 2020 bulletin . You can find the bulletin by going to https://woodbridgeliquidationtrust.com and clicking on “Reports and Letters by the Liquidation Trustee.”

The Trust’s accountants are currently engaged in preparing the required 2019 tax returns for all pre-effective date and post-effective date entities under control of the Trust. It is anticipated that the 2019 income tax returns and accompanying Grantor Letters for the Trust will be completed by early September 2020. At that time, Grantor Letters will be provided to beneficiaries of the Trust.

Earlier in the year, the Internal Revenue Service and many state taxing authorities granted to taxpayers an extension of time to file 2019 income tax returns until July 15, 2020. It is not anticipated that the 2019 income tax return for the Trust will be completed prior to the extended July 15, 2020 tax return filing deadline. Therefore, it would be advisable for each Trust beneficiary to request an additional extension of the filing due date from appropriate federal and state taxing authorities.

PLEASE CONSULT YOUR TAX ADVISOR.

source https://gregandersonlessonslearned.me/2020/05/26/tax-forms-update/