I have this FLAC file entitled '01 Track 02.flac' that I want to convert to WavPack. When I try to edit its tags, the process hangs and from then on if I try to convert it with any program or verify with the FLAC Frontend or anything, it comes back as saying the file is corrupt. Keep in mind the original tested fine.

What's the issue?

Which foobar2000 version are you using? If it's not the latest version, try to reproduce the problem with the updated foobar version first. If you're already using foobar2000 0.9.5.4, it would be most helpful if you could upload such a file so the problem can get reproduced and eventually fixed.

Cool, I'll work on getting that uploaded. It probably should be noted that the exact time the file corrupts at changes. One time I tried it and it corrupted around 7 minutes and then the next time it corrupted around the 2:30 mark.

i think when foobar2000 crashes while is rewriting a file, that file gets corrupted, when you say that the process hangs does it crash?

Sort of. Foobar otherwise keeps working normally, e.g. I can navigate around playlists and my library, but quite literally the tagging process hangs. It permanently continues. When you click 'Abort' it does crash but it takes forever to. Quite a nuisance really.

I've converted the original in dBpowerAMP to WavPack perfectly, and then used Tag&Rename to tag it and it works fine.

Anyways, here's the original, un-corrupted file:

http://rapidshare.com/files/129231076/01_Track_02.rar.html

EDIT: I am using the latest Foobar [0.9.5.4]

I tried the following with v0.9.5.4:
1/ Added the file into playlist.
2/ The whole file decoded correctly.
3/ Opened Properties, filled in random nonsense in various tags.
4/ Saved the tags - took only a few seconds.
5/ The whole file decoded correctly again.

Therefore I wasn't able to reproduce the error, but correct me if I was doing it differently or incorrectly.

Nevertheless, if the same scenario fails for you, maybe the failure depends rather on your system configuration or state? (Where was the file stored? Internal/external hard-disk or some other device? Using which filesystem, if you know? Was there enough free space?)

Maybe it depends on what tag contents are being written? Then providing what you were trying to save into which tags would be helpful.

Maybe it's (indirectly?) caused by some 3rd party component? You might try to repeat it with additional components temporarily disabled, or at least paste here the components list (as available by clicking on the [Copy] button in the top right corner of the Preferences/Components page).