Form 966 2010-2025

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Versions Form popularity Fillable & printable
2016 4.9 Satisfied (56 Votes)
2010 4 Satisfied (59 Votes)
1995 4 Satisfied (24 Votes)
1993 4.4 Satisfied (44 Votes)
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When you close or sell your business, you must file final employment tax returns with the IRS. You also must file returns to report disposing of business property, to report the exchange of like-kind property, and/or to change the form of your business.
If Form 966 is not filed within 30 days after the adoption of a resolution or plan to dissolve or liquidate, the IRS may impose penalties for late filing. The penalty amount may vary depending on the size of the corporation or LLC. Incomplete or Inaccurate Information. The Essential Guide for Form 966 for Corporate Dissolution or Liquidation optictax.com form-966 optictax.com form-966
If an S corporation has always been an S corporation and has not been a C corporation at any point, it does not need to file Form 966. Limited liability companies (LLCs): By default, LLCs are not required to file Form 966 when they dissolve or liquidate.
Purpose of Form 966 IRS notification: By filing Form 966, the corporation notifies the IRS of its intention to dissolve or liquidate. This enables the IRS to update its records and ensure compliance with tax regulations. Form 966: Understanding Corporate Dissolution or Liquidation - Fincent fincent.com irs-tax-forms form-966 fincent.com irs-tax-forms form-966
But no matter what, the form you use is pretty simple. To give you one example, check out the dissolution form used for a California LLC. For California, as with basically every other state, all you need to do is fill out a little questionnaire and provide some general information about the dissolution.
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When and Where To File. File Form 966 within 30 days after the resolution or plan is adopted to dissolve the corporation or liquidate any of its stock. If the resolution or plan is amended or supplemented after Form 966 is filed, file another Form 966 within 30 days after the amendment or supplement is adopted.

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