What type of taxes are you filing? You only file income taxes once a year (though some entrepreneurs make quarterly estimated tax payments).
If you are paying taxes monthly, you may be filing sales or employment taxes. TurboTax does not handle those types of taxes so closing your TurboTax account will have nothing to do with those types of tax filings.
If you close your TurboTax account, you will lose all your past income tax information in that account, meaning if you use TurboTax in the future you will have to start from scratch.
Personal income tax return
Whether you must file a personal income tax return depends on your total family income, so even if your business did not do well, you may still have to file income taxes. Additionally some people who make too little money to pay income taxes may qualify for tax credits which can give you a refund.
The IRS has an app called “Do I Need to File a Tax Return?” that will help you decide whether you need to file a personal income tax return.
Business tax return
If you used TurboTax Business to prepare a corporate or partnership return, you will probably have to file a return even if you did not make any money. The rules for partnerships and corporations are different.
If you have questions, contact TurboTax. See: What is the TurboTax phone number?
