Anonymous
Not applicable

Business & farm

you still have an S corp that needs to file a 1120-S.  failure to do will probably get you a notice from the IRS,  Then you will pay penalties for each month you failed to file. Not knowing what's in it, I can give you no guidance as to any tax consequences of liquidating.   Sometimes there are adverse tax consequences.  Seek the advice of a tax professional.  this is not a do-it-yourself project.    in the year liquidated you would file a final return.   

 

 

Each state has its own rules as to what it takes to liquidate and not leave you with possible future liability besides taxes.   

 

again pay for a tax pro.