Internal Revenue Code (IRC): Federal tax regulations governing the reporting requirements and tax implications for self-employed individuals upon business cessation
Fair Labor Standards Act (FLSA): Federal law relevant for worker classification purposes and ensuring proper employment status documentation
Small Business Act: Federal legislation governing small business operations and closure requirements if the individual operated as a small business entity
State Labor Laws: State-specific regulations regarding self-employment status, termination, and related requirements that vary by jurisdiction
State Tax Regulations: State-specific tax rules and requirements for closing or terminating self-employment activities
State Business Closure Requirements: Specific state-mandated procedures and documentation needed for formally closing a business operation
State Unemployment Insurance Laws: State-specific regulations regarding unemployment insurance implications for self-employed individuals
Self-Employment Contributions Act (SECA): Federal law governing social security and Medicare taxes for self-employed individuals, including final payment requirements
IRS Independent Contractor Guidelines: Federal guidelines defining independent contractor status and related documentation requirements for termination
Business Entity Dissolution Requirements: Legal requirements for dissolving business entities such as LLCs or corporations, if applicable
State Business Licensing Requirements: Regulations regarding the termination or closure of business licenses at the state level
IRS Form 1099 Requirements: Federal reporting requirements for self-employed individuals, including final year reporting obligations
