The type of return you file – and related forms you need – will depend on the type of business you have. You must file a final return for the year you close your business. Cancel your EIN and close your IRS business account.Remember to check your state responsibilities when closing a business. Whether a sole proprietorship, partnership or corporation, information on this page will help you understand what to file and how to report income you receive and expenses you incur before closure. On this page, you’ll find the steps you’ll need to take to close your business from a federal tax perspective regardless of your business type and information to help you take care of your employees. The IRS has resources that can help you navigate this. Use the COVID-19 Business Tax Relief Tool to see if you qualify for special business tax credits.Ĭlosing your business can be a difficult and challenging task.Get information on coronavirus relief for businesses.Before you close your business, find out if tax relief can help you stay open.