topic Federal Filing Requirements when Closing a C-Corp in Self employed

Federal Filing Requirements when Closing a C-Corp

Software2891 — Mon, 09 Mar 2026 06:33:54 GMT

I have had a C-Corp since 1982. It was a one-person software company. I decided to close the business on 12/31/2021. I filed "Articles of Dissolution" with my state.

What do I have to file with the Federal government to correctly close the business? I think that I have to file a Form-966 and the final Form-1120 with the "Final Return Box" checked, but is there some other form that I have to file, or is there some other action that I must take.

Thank you.

Re: Federal Filing Requirements when Closing a C-Corp

Anonymous_ — Thu, 31 Mar 2022 18:35:08 GMT

The requirements are set forth in an IRS fact sheet at the link below.

See https://www.irs.gov/newsroom/closing-a-corporation

Re: Federal Filing Requirements when Closing a C-Corp

ThomasM125 — Thu, 31 Mar 2022 18:52:57 GMT

You need to check the Final Return box on the form 1120 and file form 966 Corporate Dissolution or Liquidation. Also, if you took any special depreciation or section 179 depreciation on any business assets, you should indicate in TurboTax that you disposed of them in case there is any depreciation recapture that needs to be reported.

Re: Federal Filing Requirements when Closing a C-Corp

Software2891 — Thu, 31 Mar 2022 21:21:57 GMT

Thank you for the information. I truly appreciate it. I had nothing that was depreciating, so it is a pretty clean exit.

Re: Federal Filing Requirements when Closing a C-Corp

Software2891 — Thu, 31 Mar 2022 21:25:36 GMT

Thank you.

The information on the link is great.