I filed my business return late, what penalty am I looking at?

Question

Kohari Gonzalez Oneyear & Brown · Accepted Answer

A late-filed business return can carry more than one type of penalty, and the outcome often depends on the entity type, whether any tax was actually due, and how long the return was overdue. In many cases, the IRS looks at both filing and payment issues separately, so a return filed late with an unp 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.