All Things Tax

All Things Tax

Like the title says, from the filing process and tax questions to tax policy and reform, you can search and share All Things Tax here. This is the place to find answers to all your general questions that don't fall under the other categories. And just a reminder: questions about software or online filing should be posted in DIY Products.

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Pioneer
Posts: 1
Registered: ‎12-06-2017

I dont have my LLC anymore, do i need to cancel anything with taxes?

I used to have my freelance business as an LLC, that i filed taxes with. the past 3 years I havent filed anything because I dont do any business with it. But im worried 10 years from now, the IRS will come after me and make me pay a ton of money for something. So since the LLC is no longer, do i need to do anything with taxes to let them know there is no more business? 

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Tax Pro
Posts: 5,787
Registered: ‎02-23-2016

Re: I dont have my LLC anymore, do i need to cancel anything with taxes?

Hi blairwalton,

 

 

Welcome to the H&R Block community.

 

There's nothing in particular that you need to do.  Just make sure that you filed your Schedule C for each year through the last year that you were in business.  If literally nothing transpired because you weren't in business or weren't doing anything with the business then you don't need to worry about filing a Schedule C.

 

If you have a record that shows the last time that something transpired with the business and/or that it stopped operating at a given point then that's all you need to show as proof that you didn't need to file a business tax return for the years you didn't file one.

 

Note that you can cancel state level registrations, usually by mailing in a cancellation form.  Your state/county tax collector website will have more information on this.  County registrations/licenses normally expire each year and you can update your county when that happens.

 

If you have any other questions I'll be glad to help.

 

Louis,

Senior Tax Advisor (Tampa, FL)