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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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- What is the IRS penalty for not filing Form 1065 for over 10 years, the partnership was inactive and had no income and expenses during the 10 years.?
What is the IRS penalty for not filing Form 1065 for over 10 years, the partnership was inactive and had no income and expenses during the 10 years.?
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joegarcia
Level 2
03-11-2023
07:40 PM
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3 Comments 3
sjrcpa
Level 15
03-11-2023
08:07 PM
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It's $XX per month per partner per year up to 6 months.
$XX changes every year, at least for the last 5 or 6 years or so.
Interest gets added.
But were they required to file if no items of income or deduction?
Ex-AllStar
joegarcia
Level 2
03-11-2023
08:11 PM
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But were they required to file if no items of income or deduction?
Great question, I need guidance on this question as well. Is a partnership with no income or expense required to file?
