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I have not filed a tax return sole proprietorship since 2007

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i have not filed a...
i have not filed a tax return for my sole proprietorship since 2007 although i have not earned any money through it since then what is my status with it
Submitted: 2 years ago.Category: Tax
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10/23/2015
Tax Professional: emc011075, Tax adviser replied 2 years ago
emc011075
emc011075, Tax adviser
Category: Tax
Satisfied Customers: 3,339
Experience: IRS licensed Enrolled Agent and tax instructor
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Hi. My name is ***** ***** I will be happy to help you.

As sole proprietor you are not required to file a tax return if your income, not profit after deductions, is less than $400. If you made more than that you are technically require to file a tax return. There's no statute of limitation for unfiled returns, however IRS usually only requires for the last six years.

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Tax Professional: emc011075, Tax adviser replied 2 years ago

I see you offline now. So if this answered your question, please take a moment to rate my response so that I may receive credit for assisting you today. However, if you need clarification, or want to discuss this issue further, let me know. Thank you.

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