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- Is there a way to close a company that was opened during 2020, for the year 2020?
Is there a way to close a company that was opened during 2020, for the year 2020?
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Laramultiservic
Level 2
yesterday
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I have a client that opened a corporation (form 1120) in the year 2020. He claims that he has not used this EIN for conducting business. He has not had any income, and he has never filed taxes for the company since it was opened. I explained that corporations usually charge a penalty and interest for filing late. He was unaware of this when he opened the company so now, he's wondering if there is any way to close the company for the same year that it was opened since there was never any business conducted with the number?
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