Rev. Rul. 69-600

During 1968 a receiver was appointed to take possession of the property and manage the business of a calendar-year corporation. Section 1.6012-2 of the Income Tax Regulations provides that a corporation does not go out of existence if it is turned over to a receiver who continues to operate it. Section 1.6012-3(b)(4) of the regulations provides that a receiver having possession of the property or business of a corporation shall make the return of income for such corporation in the same manner and form as corporations are required to make such returns.

Held, the income tax return filed by the receiver pursuant to section 1.6012-3(b)(4) of the regulations should include the income, deductions, etc., of the entire year's operations.

O.D. 73, C.B. 1, 235 (1919), is hereby superseded since the position set forth therein is restated under the current statute and regulations in this Revenue Ruling.

¹ Prepared pursuant to Rev. Proc. 67-6, C.B. 1967-1, 576.