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I have a S corp for my business. Do I have to hold on to it

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for 10 years? It started...
I have a S corp for my business. Do I have to hold on to it for 10 years? It started in 2008
Submitted: 1 year ago.Category: Tax
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9/23/2016
Tax Professional: emc011075, Tax adviser replied 1 year 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.

No, there's no 10 year requirement for scorp. If your scorp is not active and you want to end it you will need to file final scorp tax return to let the IRS know that this is your last/final year.

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Tax Professional: emc011075, Tax adviser replied 1 year ago

I see you read my respond. Do you have any questions? Is there anything else I can help you with today?

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