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I closed my S corp after filing the return and K1 in April. Do I need to wait until next year to notify IRS about final return or can I do it now?

I closed my S corp after filing the return and K1 in April. Do I need to wait until next year to notify IRS about final return or can I do it now?

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I closed my S corp after filing the return and K1 in April. Do I need to wait until next year to notify IRS about final return or can I do it now?

Technically the final return is due 2 1/2 from the end of the month you closed your S_corp.   this means reusing the 2023 software and entering a fiscal year date of 1/1/24 through ?/?

by the way a calendar year S-corp return for 2023 that is not extended was due 3/15/2024.

 

is it acti=ually an S-corp or an LLC that elected S-Corp. Generally, to officially terminate an S-corp or LLC with the state certain paperwork is supposed to be filed. 

With Turbotax, you won't be able to roll 2023 into 2024, if you reuse the 2023 app. 

If the S-corp terminated in April, then the final unextended return is due 7/15/2024. you can get a 6 month extension by filing it on or before the original due date.  This probably won't help if you want to do your final return using the 2024 Business Turbotax. The version that will come out will be a beta version and so based on 2023 and updates may not be available until after the extended due date which would be 1/15/2025.  late filing incurs a penalty of abort $200/month/shareholder. 

 

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