Penalties & Payment Plans
“How do penalties work if I didn’t file my business return on time?”
When a business return is filed late, the penalties often depend on the type of entity, whether any tax was due, and how long the return remained unfiled. The IRS and state agencies may also look at whether there was a reasonable cause explanation, prior compliance history, and whether estimated payments or payroll filings were handled separately. In many cases, the penalty picture can change if the return was eventually filed, if payment was made later, or if notices were issued along the way. The details of the business structure and the specific return involved usually shape the outcome. Going through your records with a CPA usually surfaces the answer in under an hour.
In your 30-minute session, the KGOB advisor handling it will:
- Read your exact situation and tell you, in plain English, what’s actually going on.
- Lay out your options and the trade-offs — no jargon, no judgment.
- Give you a clear next step you can act on, whether that’s with us or on your own.
“How big is the penalty if I missed my business return deadline?”
“I’m late on my business return, how severe is the penalty?”
“My business return was filed late, how large could the penalty be?”
“I filed my business return late, what penalty am I looking at?”
“I can't pay my $2,000 tax bill, can I set up a payment plan?”
“I can't pay my $5,000 tax bill, can I set up a payment plan?”
This page is a prompt to start a conversation, not tax or legal advice, and states no tax-law specifics as fact. A consult session does not by itself create an ongoing engagement. We do not promise specific outcomes or savings. Kohari Gonzalez Oneyear & Brown PLLC — Charlotte, NC.
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