See a local attorney about filing a shareholder suit.
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You are going to want to speak with a corporate attorney. Majority shareholders are not allowed to "oppress" minority shareholders in a closely held corporation. You also have broad rights to information as a shareholder. Failing to give you a K-1 is potentially quite serious because of the IRS implications, and the president could be held personally liable for any penalties and taxes you incur. You also will want to ensure that the President has been running the company properly and filing and paying taxes, especially payroll taxes, since the shareholders can be held personally liable for unpaid withholdings (IRS 941's). You might contact Robert Murillo on Avvo.com - he does a lot of business law. I hope this helps.
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You need to speak with a business attorney. There are lots of moving parts at issue and the attorney would want to review the articles, bylaws, minutes and the like. You have rights to demand a shareholder meeting and various documents must be maintained of record for inspection. You also have certain rights as a minority shareholder, depending on the facts. Speak with a business attorney quickly.
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