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I have an S corp. business that went out of business March…

Customer Question
I have an S...

I have an S corp. business that went out of business March 2017. What do I need to do to inform the Mass. or Fed. IRS. so I am not charged taxes any more?

Accountant's Assistant: What state are you in? It matters because laws vary by location.

Mass.

Accountant's Assistant: Has anything been filed or reported?

Not for 2017

Submitted: 3 months ago.Category: Tax
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Answered in 1 minute by:
1/2/2018
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 3 months ago
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 867
Experience: Business Consultant/Accounting Manager
Verified

Hi. Great Question. For federal tx purposes, file a final tax return, checking the box on the front of the form that indicates the return is final. Submitting a final tax return closes the S corporation's IRS account. Same with Massachusetts.

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 3 months ago

Let me know if this helps and if you have any questions. Thank you.

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Customer reply replied 3 months ago
Thank you very much, I will do this for taxes for 2017.
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 3 months ago

You are very welcome. Best Regards.

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 3 months ago

A positive rating is very much appreciated. Thank you. Have a great day.

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ABC Accounting Group
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 867
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