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In this video, the presenter discusses IRS Form 966, which is required for corporate dissolutions or liquidations in the U.S. This applies to regular for-profit corporations and LLCs taxed as C-corps. If you decide to close your entity, you must file Form 966 within 30 days after adopting a plan or resolution to dissolve the company. The video explains how to complete the form, starting with the essential information needed at the top, such as the corporation's name, mailing address, EIN, and the type of return being filed (standard C-corp return, Form 1120). The presenter emphasizes the importance of accuracy in completing this form.