My business is closed, should I still file Form 941?

Last modified 4/13/2023 5:22:09 AM EST

Yes, even if your business is closed or you no longer pay wages, you must file a final Form 941 with the IRS, ensuring all values are set to zero. To indicate that this is your final return, check the box on Line 17 and enter the final date you paid wages.

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