jskouberdis
Level 5

Good morning community,

I have a question regarding an S-Corp return that I will be filing late.  I took out an extension on 3-15-24 and the return is due on 9-16-24.  I know that the penalty is $220 per month per shareholder.  My question is when is this penalty calculated from.  Is it from 3-15-24 or because I have an extension does the penalty start accruing from 9-16-24?  Hope to hear your ideas in the near future.

Thanks,

John Skouberdis