Charys Holding Company, Inc. June 2008 Post-Petition Tax and Debt Status Report

Summary

This report, submitted by Charys Holding Company, Inc. for June 2008 as part of its bankruptcy proceedings, details the company's post-petition tax payments and outstanding debts. All federal and state payroll taxes accrued during the month were paid in full. The report also lists accounts payable and amounts due to insiders, totaling $258,589 in post-petition debts. The company states it will use funds from management fees to pay any overdue debts.

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EX-10.7 8 ex10_7.htm EXHIBIT 10.7 ex10_7.htm
Exhibit 10.7
 
In re
  
CHARYS HOLDING COMPANY, INC
  
Case No.
  
08-10289 (BLS)
   
Debtor
  
Reporting Period:
  
June 1 through 30
 
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 Withheld and/or Accrued
    
Amount Paid
    
Date Paid
    
Check # or EFT
    
Ending Tax
  
Withholding
   $ -     $ 20,721     $ 20,721                     $ -  
FICA-Employee
     -       3,820       3,820                     $ -  
FICA-Employer
     -       3,820       3,820                     $ -  
Unemployment
     -       -       -                     $ -  
Income
     -                                     $ -  
Other:                         
     -                                     $ -  
Total Federal Taxes
     -       28,360       28,360                       -  
State and Local
                                                
Withholding
     -       5,487       5,487                     $ -  
Sales
     -                                     $ -  
Excise
     -                                     $ -  
Unemployment
     -       -       -                     $ -  
Real Property
     -                                     $ -  
Personal Property
     -                                     $ -  
Other:                         
     -       -       -                     $ -  
Total State and Local
     -       5,487       5,487                       -  
                                                 
Total Taxes
   $ -     $ 33,848     $ 33,848                     $ -  
 
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
   $ 88,954     $ 117,403     $ 29,112     $ 1,310     $ 14,787     $ 251,566  
Wages Payable
                                     -       -  
Taxes Payable
                                     -       -  
Rent/Leases-Building
                                     -       -  
Rent/Leases-Equipment
                                     -       -  
Secured Debt/Adequate Protection Payments
                                             -  
Professional Fees
                                     -       -  
Amounts Due to Insiders
     5,892       1,131                       -       7,023  
Other: Routine expenses
                                             -  
Other:                           
                                             -  
Total Post-petition Debts
   $ 94,846     $ 118,534     $ 29,112     $ 1,310     $ 14,787     $ 258,589  
 
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.