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Penalty for Late Filing of an S Corporation Return - Emil Estafanous, CPA : Emil Estafanous, CPA

Penalty for Late Filing of an S Corporation Return

For tax years beginning after 2009, the late filing penalty for an S corporation return is $195 for each month or part of a month (up to 12 months) the return is late (or does not contain the required information) multiplied by the total number of persons who were shareholders in the corporation during any part of the corporation’s tax year. No penalty will be imposed if the corporation shows that the late filing was due to reasonable cause.

About Emil Estafanous, CPA
Certified Public Accountant (CPA) Tax Professional committed in representing taxpayers and resolving their tax problems.

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