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On my 2015 1120S (for my S-Corp) I planned on closing my corp, so checked Final Return. I decided not to close it and am filing for 2016 now. Do I need to file an amended 15 first?

Forum|Forum|6 years ago
June 5, 2019
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Best answer by MichaelL1

There are 3 ways you could do this:

1) You can file an amended Form 1120S return to change the final box on your prior return. However, this is not required and can be burdensome.

2) You could also call the IRS business help line (800-829-4933) and explain to them the situation and they will re-activate your filing requirements so that the corporation is shown as an active filer again.

3) You can also attach a note to the next Form 1120 you file stating that the final box was marked in error on the last return. This should suffice.

MichaelL1Answer

Employee

There are 3 ways you could do this:

1) You can file an amended Form 1120S return to change the final box on your prior return. However, this is not required and can be burdensome.

2) You could also call the IRS business help line (800-829-4933) and explain to them the situation and they will re-activate your filing requirements so that the corporation is shown as an active filer again.

3) You can also attach a note to the next Form 1120 you file stating that the final box was marked in error on the last return. This should suffice.

V

videocom

Employee

For 2020, I prepared my 1120-S Scorp taxes using turbo tax business and there was no money made in the business. So I filled an extension for 2021 and have decided to close the business because it is not being used for anything since 2020. Therefore, could I amend the 2020 return and make that my final return. I see no reason to keep this business open.