Resuming Operation after Filing a Final Return
I thought most of the questions here would involve starting a new business but I had one come up today that involves a closed business.
When a company shuts down they file a “final return” with the IRS. The business in question was an LLC so they just checked the final return box on their Form 1065 (U.S. Return of Partnership Income).
For whatever reason, this company filed their “final return” last year and has now decided to continue doing business under the same name and Employer Identification Number (EIN).
What does this company need to do in order to continue operating since they have already filed a final return?
After about 45 minutes of navigating IRS phone menus and sitting on hold I had my answer.
As long as you have not dissolved your partnership in the state in which it was registered, all you need to do is file a tax return as you normally would and the IRS will reactivate your file.
There you have it. Not an extremely interesting question for my first post but who knows, maybe it will help someone out there.
