₪₪₪ Very late tax return. Should I file “No Tax Due” or “Stopped Business”?
I started my sole proprietor business on July 08. It’s a home based, I sell computer parts on eBay. I have EIN, but no employee. I made only $155 gross sale from June 1 – Aug 31, 08.
I received the letter of ST-100 form; New York Quarterly Sale and Use Tax Return on August. I didn’t realize how important is it. I’m new, this is my first time filling tax return. The due date was Sep 22.
Until Nov 21, I received the “Notice of Non receipt of Sale and use tax return”. Now that I truly understand how important is it, but I can’t afford that much fee. Estimated total of Penalty and Interest is as high as $250.
- Can I file “No tax due” ?
- Or what about if I choose to file “stopped doing business” ? And later could I form a sole proprietorship under my name?
- How does IRS find out if I only made $155? I received money via PayPal, is it acceptable proof?
- I changed address, if I report it, will I still have to pay the fee?
Category: IRS Problems
