Penalties & Payment Plans
“My business return was filed late, how large could the penalty be?”
When a business return is filed late, the potential penalty often depends on the type of entity, how late the filing was, and whether any tax was unpaid when the return was due. The IRS and some state agencies may also look at whether extensions were filed, whether prior notices were issued, and whether there is a reasonable cause explanation. In many cases, the total amount can change based on how the return was prepared and whether payroll, partnership, or corporate reporting was involved. Walking the details through with a CPA is the fastest way to know what truly applies here.
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.
“I filed my business return late, what penalty am I looking at?”
“How big is the penalty if I missed my business return deadline?”
“I missed my business tax filing deadline, how much is the penalty?”
“How much penalty do I owe for filing my business return late?”
“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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