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We started a company during 2017. We shut down the company…

We started a company...

We started a company during 2017. We shut down the company in 12/17. The company had no sales and 5 figure start up and operating costs. It was incorporated in Texas. Other than notifying IRS of closure of company, do we need to file a tax return?

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Answered in 1 minute by:
3/4/2018
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,798
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

What entity type?

Sole proprietor? Partnership? S corporation? C corporation?

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Customer reply replied 1 month ago
It was a LLC

LLC with what entity classification? Partnership? S corporation? C corporation?

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Customer reply replied 1 month ago
Just chat for now, thanks.

Any offer of a phone call is system generated. Please ignore it.

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Customer reply replied 1 month ago
I don't think this question warrants a phone call and the expense. If you are not willing to answer with chat, then I will seek other sources. Thanks.

As I mentioned, the offer of a phone call is system generated. Please ignore it.

We can continue here.

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What is the entity classification of the LLC?

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Customer reply replied 1 month ago
Thanks, What other information do you require so I can comply before 03/15/18?

I've asked you what the entity classification of the LLC is. Is it a partnership, C corporation, or S corporation?

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Customer reply replied 1 month ago
It was a C corporation. An LLC

Thank you.

A C corporation must file Form 1120. You will mark the return as final so the IRS does not expect to receive any other tax returns from the C corporation.

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Customer reply replied 1 month ago
Thanks, ***** ***** afraid of that. Appreciate the advise. Cheers!

The new due date for C corporations is 4/15/18.

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Actually, this year it's 4/17/18 because 4/15 is a Sunday and 4/16 is Emancipation Day in Washington, DC.

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Please let me know if I can assist you further.

Thank you.

Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,798
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
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Barbara and 87 other Tax Specialists are ready to help you
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Thank you for the positive rating of my answer. It is very much appreciated.

Have a great day!

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Barbara
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,798
5,798 Satisfied Customers
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

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