tau Bootis is a late F-type main sequence star orbited by a Hot Jupiter. During the last years spectropolarimetric observations led to the hypothesis that this star may host a global magnetic field that switches its polarity once per year, indicating a very short activity cycle of only one year duration. In our ongoing observational campaign, we have collected several X-ray observations with XMM-Newton and optical spectra with TRES/FLWO in Arizona to characterize tau Boo's corona and chromosphere over the course of the supposed one-year cycle. Contrary to the spectropolarimetric reconstructions, our observations do not show indications for a short activity cycle. (C) 2012 WILEY-VCH Verlag GmbH\&Co. KGaA, Weinheim