Federal Filing Requirements when Closing a C-Corp

[Software2891]

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.

[Anonymous_ · Accepted solution]

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

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

[ThomasM125]

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.

[Software2891]

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

[Software2891]

Thank you.

The information on the link is great.