Tag Archives: IRS Tax

Business owners should visit IRS.gov for help with tax actions when closing a business

Closing a business is always a difficult decision regardless of the circumstances. With this in mind, the IRS redesigned the closing a business page of IRS.gov to help business owners navigate the federal tax steps when closing a business.

Small businesses and self-employed taxpayers will find a variety of information on the page including:

  • What forms to file
  • How to report revenue received in the final year of business
  • How to report expenses incurred before closure
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