I have two LLCs and I elected to have both treated as S Corps for tax purposes. The one LLC has been around for awhile and was active for a time and for the last couple of years I have done nothing with it and want to shut it down. I just started the other LLC at the end of last year and there has been zero activity and I just don't want to deal with business things anymore and want to shut this one down too. Few things and some questions.
* Neither had activity last year so I will be filing the 1120s for both since I am required to do so even with zero activity.
* I am the sole member on the one and it has no assets and no money.
* I am 50/50 with my husband on the other and again it has no assets and no money because I let it all go awhile back and just never officially terminated anything.
* Can I mark final return on both (filing for 2022 and it is currently March 2023) and then do the official termination with the state after?
* Do I really need to cancel the business accounts (ein) with the IRS by sending them a letter?
Any help is much appreciated. I have been searching the internet and all the articles I come across deal with businesses closing that have employees and assets and don't match my situation.
Thank you!
