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If you are preparing to close your business, it is essential that you notify the IRS and State taxing authorities. It is likely that there will be a few loose ends to tie up with your taxes, especially if you have assets to sell, accounts receivable to finalize, accounts payable to address, and employee that need payroll to be finalized. The last thing you want is to be hit with unexpected penalties or aggressive collection tactics because of the improper closing of the business and its related tax accounts. You will be required to file your final taxes, make your final payroll deposits and file all of the necessary paperwork. In addition to closing out things with the IRS, you also need to make sure any State requirements have also been met.

Closing your business is stressful and will cause you to have a long list of things to take care of. It's understandable that some things may fall between the cracks. Don’t let tax consequences be one of those things! Golden Lion Tax Solutions is here to guide you through the process of Business Closure to give you peace of mind that the IRS or State are not going to come back and issue unexpected penalties or fines.

State Amnesty Programs

Disclaimer: There are requirements that must be satisfied in order to qualify for some of the tax solutions we discuss on our website. Not all of our services will be suitable for every client. Golden Lion Tax Solutions is here to help you find the most appropriate resolution strategy to fit your situation.