EZ way to shut down S-Corp?

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  • TaxTime829
    Junior Member
    • Aug 2012
    • 24

    #1

    EZ way to shut down S-Corp?

    Is there an easy way to close an S-Corp. It seems a final 1120s, final 941, final 940 and final SUTA tax returns will all need to be filed. It seems the client has already filed all these returns but did not state they were the last one. So do I amend the 1120s and file $0 payroll for a quarter just to close the accounts? Is there a better way to do this?
  • ChEAr$
    Senior Member
    • Dec 2005
    • 3872

    #2
    Originally posted by TaxTime829
    Is there an easy way to close an S-Corp. It seems a final 1120s, final 941, final 940 and final SUTA tax returns will all need to be filed. It seems the client has already filed all these returns but did not state they were the last one. So do I amend the 1120s and file $0 payroll for a quarter just to close the accounts? Is there a better way to do this?
    Do you have a copy of the Articles of Dissolution at hand? Make sure you know that date and then you can call Practitioner's hotline to discuss with a knowledgeable assistant at IRS>
    ChEAr$,
    Harlan Lunsford, EA n LA

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    • Lion
      Senior Member
      • Jun 2005
      • 4699

      #3
      Look on your secretary of state's website for dissolution forms. Also, check your department of revenue's website.

      Comment

      • veritas
        Senior Member
        • Dec 2005
        • 3290

        #4
        when you find the articles,

        Then file form 966 with the IRS.

        Comment

        • John of PA
          Senior Member
          • Jul 2005
          • 1104

          #5
          I have a client who just used Legalzoom (online) to dissolve thier S Corp. It worked out, but they would not answer any consulting type questions, they only file the papers. Make sure the final 1120S is marked final in addlition to the above suggestions. The Legalzoom is just to get dissolution papers filed with the state.

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