Late Filing of S Corps and Partnerships

The Penalty for Late Filing of S Corps or Partnerships is now $195 per month per shareholder or partner for up to 12 months (more than twice the previous penalty).  It does not matter if he entity owes tax or not, this is a late filing of the paperwork.  It would INCLUDE not filing an extension.  DON’T WAIT TILL THE LAST MINUTE!

This entry was posted in Income Tax, LLC's, Sub S Corporations. Bookmark the permalink.

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