We stopped doing business in 2015 but have not actually closed the business yet. We have $200. in inventory left. Do I still need to file a business return?

villagec · ‎May 31, 2019

PatriciaV · ‎May 31, 2019

Yes. Until you formally close your business, you are required to file a business tax return. In your final year (when the books are closed and the entity dissolved), be sure to mark the tax return as "Final." By doing so, you inform the IRS that no more tax returns will be filed.

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PatriciaV · ‎May 31, 2019

Yes. Until you formally close your business, you are required to file a business tax return. In your final year (when the books are closed and the entity dissolved), be sure to mark the tax return as "Final." By doing so, you inform the IRS that no more tax returns will be filed.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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We stopped doing business in 2015 but have not actually closed the business yet. We have $200. in inventory left. Do I still need to file a business return?