Does anybody know what happens if you close a business but never actually dissolve the corporation?
Can the IRS come after you or since there's really nothing to come after, you've paid off all other debts, etc., they really can't do much?
I had a business a few years ago where I closed the bank account, paid off all creditors and then just forgot about it...but now that I'm about to start a new one I was curious to know if this could come back to bite me.
Thanks in advance.
Answers
124 points
Wilpat answered 9 months ago …
First of all the IRS will expect the business to file a tax return every year. Ditto for the State. There are other state agencys that may require paperwork also -- Unemployment Workers Comp. etc,
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698 points
7million7years answered 9 months ago …
Check with your accountant; if you have losses sitting in there you may still be able to write them off against future income (possibly even if those taxes come from profits in a new company ... get professional advice on this).
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