- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
There are too many unanswered questions for us to really help you, and you don't sound confident enough to do your own returns even if we asked a lot of questions and probed for all the details (which this board isn't really set up to do.)
See a tax professional. Once your situation is understood and all the right forms are prepared, the professional can also assist you with applying for a waiver of any penalties for cause, or as a first-timer. At the very least, you will need to file for 2021, 2022 and 2023, after you close the business.
On the positive side, if you spent money on the business but it never made money, you might have a loss you can apply against other income. But that all needs to be put down officially on paper and filed.