Inactive business, did not file for it last year

TAKeat · ‎November 16, 2022

I have a business that I did not work on in 2020, 2021 or 2022. I did not file taxes for it those years. I never got advised if that was the correct action. Is it okay to continue not to file.

Thanks!

TAKeat

Anonymous_ · ‎November 16, 2022

@TAKeat wrote:

I never got advised if that was the correct action. Is it okay to continue not to file.

Is this a sole proprietorship (where you would ordinarily file a Schedule C)? If so, then filing would not be necessary assuming you have no deductions (such as assets being depreciated or other expenses).

View solution in original post

Anonymous_ · ‎November 16, 2022

@TAKeat wrote:

I never got advised if that was the correct action. Is it okay to continue not to file.

Is this a sole proprietorship (where you would ordinarily file a Schedule C)? If so, then filing would not be necessary assuming you have no deductions (such as assets being depreciated or other expenses).