https://ttlc.intuit.com/community/self-employed-group/discussion/shutting-down-sole-proprietorship/01/3374482#M14699 <P>I had a schedule C for the last 3 years with one employee. I am no longer operating the business. In fact I paid no wages this year and the business lost money every year (not a huge amount) which is why I decided to shut it down. I have an extension for 2023 taxes. Is there anything I need to do to let the IRS and CA FTB know that I am no longer in business?</P> Wed, 11 Feb 2026 10:11:16 GMT rachna 2026-02-11T10:11:16Z https://ttlc.intuit.com/community/self-employed-group/discussion/shutting-down-sole-proprietorship/01/3374482#M14699 <P>I had a schedule C for the last 3 years with one employee. I am no longer operating the business. In fact I paid no wages this year and the business lost money every year (not a huge amount) which is why I decided to shut it down. I have an extension for 2023 taxes. Is there anything I need to do to let the IRS and CA FTB know that I am no longer in business?</P> Wed, 11 Feb 2026 10:11:16 GMT https://ttlc.intuit.com/community/self-employed-group/discussion/shutting-down-sole-proprietorship/01/3374482#M14699 rachna 2026-02-11T10:11:16Z