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EZ way to shut down S-Corp?

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    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?

    #2
    Originally posted by TaxTime829 View Post
    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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      #3
      Look on your secretary of state's website for dissolution forms. Also, check your department of revenue's website.

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        #4
        when you find the articles,

        Then file form 966 with the IRS.

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          #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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