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May 21, 2021
Question

Do I have to notify the IRS when I stop my self employment business? I stopping in a month or so.

  • May 21, 2021
  • 1 reply
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1 reply

JoesemM
May 21, 2021

It's nice to have you here on the Community page, @markcathymarkcat. Let me share some information about stopping your account.

 

Yes, you'll have to notify the IRS when you stop your business, it's because tax rules require you to keep the tax agency in the loop. The IRS can give you advice about your plans and process the final return from them. You can get their contact information through this link: IRS Telephone Assistance.

 

In case it's about time to stop your QuickBooks Self-Employed account, you can follow the steps below. Please note after a year, your QBSE account will automatically be deleted completely. This process was implemented so you can still have read-only access. This way, you can print forms and reports that you might need in the future.

 

To cancel subscription:

 

  1. Go to the Gear icon⚙ button located in the upper right.
  2. Select Billing Info, under About you. 
  3. Choose Cancel now, then enter your feedback when prompted.
  4. Hit Cancel subscription

 

Once done, we will send the account administrator an email that confirms we canceled your subscription. You can use this article for a detailed guide about the process: Cancel your subscription.

 

You may consider preparing your taxes before canceling your subscription. Feel free to read through this article: QuickBooks Self-Employed - Annual taxes guide for more details.

 

Also, I'd encourage you to visit these links about how to export transactions, reports, and other relevant matters. 

 

 

Post a reply in the comments below if you have other questions about your QBSE account. I'll answer them for you. Take good care!