Charys Holding Company, Inc. Post-Petition Tax and Debt Status Report (July 2008)

Summary

This report, filed by Charys Holding Company, Inc. for July 2008 as part of its bankruptcy proceedings, details the company's post-petition tax payments and outstanding debts. It confirms that all federal and state payroll taxes accrued during the month were paid in full, with no remaining tax liabilities at month-end. The report also lists unpaid post-petition debts totaling approximately $2.8 million, primarily in accounts payable. The company states it plans to pay these debts using funds received from management fees.

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EX-10.7 8 ex10_7.htm EXHIBIT 10.7 ex10_18.htm
Exhibit 10.7
 
In re
CHARYS HOLDING COMPANY, INC
Case No.
  
08-10289 (BLS)
  Debtor 
Reporting Period:
  
July 1 through 31

STATUS OF POST-PETITION TAXES

The beginning tax liability should be the ending liability from the prior month or, if this is the first report, the amount should be zero.
Attach photocopies of IRS Form 6123 or payment receipt to verify payment or deposit of federal payroll taxes. Attach photocopies of any tax returns filed during the reporting period.

Federal
  
Beginning Tax
    
Amount Witheld and/or Accrued
    
Amount Paid
    
Date Paid
    
Check # or EFT
    
Ending Tax
  
Withholding
   $ -     $  19,788     $
 19,788
                 $  -  
FICA-Employee
     -       3,059       3,059                 $  -  
FICA-Employer
     -       3,059       3,059                     $  -  
Unemployment
     -       -       -                     $  -  
Income
     -                                     $ -  
Other:
     -                                     $  -  
Total Federal Taxes
     -       25,907       25,907                       -  
State and Local
                                                
Withholding
     -       5,170       5,170                     $ -  
Sales
     -                                     $  -  
Excise
     -                                     $  -  
Unemployment
     -       -       -                     $ -  
Real Property
     -                                     $  -  
Personal Property
     -                                     $  -  
Other:
     -       -       -                     $ -  
Total State and Local
     -       5,170       5,170                       -  
                                                 
Total Taxes
   $ -     $ 31,076     $ 31,076                     $  -  

SUMMARY OF UNPAID POST-PETITION DEBTS

Attach aged listing of accounts payable,

   
Number of Days Past Due
  
   
Current
       0-30       31-60       61-90    
Over 91
    
Total
  
Accounts Payable
   $ 2,673,218     $ 21,971     $ 103,975     $ 
(6,153
 )    $ 14,621     $ 2,807,632  
Wages Payable
                                     -       -  
Taxes Payable
                                     -       -  
Rent/Leases-Building
                                     -       -  
Rent/Leases-Equipment
                                     -       -  
Secured Debt/Adequate Protection Payments
                                             -  
Professional Fees
                                     -       -  
Amounts Due to Insiders
     17,777                               -       17,777  
Other: Routine expenses
                                             -  
Other:
                                             -  
Total Post-petition Debts
   $ 2,690,995       S 21,971     $ 103,975     $ (6,153 )   $ 14,621       S 2,825,409  

Explain how and when the Debtor intends to pay any past due post-petition debts,
Debtor will utilize funds received in payment of management fees to pay the past due debts.