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Business started but no income ever recieved
My wife and I started a business but never actually got to start the business due to COVID having our state shut down and I need to know how I can let the IRS know that this business is not going to be moving forward and that it will probably be disolved.
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March 30, 2021
9:18 AM
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Business & farm
How you will handle this in your tax returns depends on whether you filed a return for the business in 2019 or if 2020 was to have been the first year in operation.
Here is a link about how to close a business in TurboTax that takes into consideration both instances.
Here is information about contacting the IRS in regards to your EIN number for the business:
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March 30, 2021
9:52 AM