How do penalties work if I didn’t file my business return on time?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

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 pay For an answer applied to your exact numbers, bring this question to a licensed KGOB CPA in a focused session and leave with a clear next step.