Yes, you generally need to file taxes for your S corporation even if it did not earn any income for the year.Explanation:Form 1120S: The IRS requires all S corporations to file Form 1120S annually, regardless of income. Additionally, some states may have their own filing requirements and mandatory minimum taxes, even if there is no income.For more detailed information, you can refer to the IRS S Corporations pageand the UpCounsel guide on filing taxes for an S Corp with no income

Question

If my s corp business did not earn income as in zero income for the year , do I need to file taxes ?

Forum|Forum|1 year ago
March 9, 2025
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SabrinaD2

Yes, you generally need to file taxes for your S corporation even if it did not earn any income for the year.

Explanation:

Form 1120S: The IRS requires all S corporations to file Form 1120S annually, regardless of income.
Additionally, some states may have their own filing requirements and mandatory minimum taxes, even if there is no income.

For more detailed information, you can refer to the IRS S Corporations page

and the UpCounsel guide on filing taxes for an S Corp with no income