My business is closed, should I still file Form 941?
680 views |Last modified 4/2/2024 8:42:22 AM EST | Added by TaxBandits Team

Yes, even if you close your business or no longer pay salaries, you must file a final return with the IRS with all the values set to zero. To indicate that this is the final return, you must check the box on Line 17 and fill in the business closure information.

For step-by-step instructions on how to report zero taxes on Form 941, click here.