I have a llc and for year 2022 i filed tax on march. I lost money for year 2022. Now i received a letter from IRS for late file tax. do i need to pay the penalty?

you did not tell us why type of tax entity the LLC was. It could be a single-member LLC taxed as a disregarded entity- no return is filed so there would be no penalty. the activity is reported diredtly on your 1040. Or perhaps you elected partnership, S-Corp or C-Corp taxation.  an LLC that elects to be tax as a partnership, S-Corp or C-Corp has a return due date of 3/15 (calendar tax year). Other than for a C-Corp there are penalties of about $200/month for each month or fraction thereof that the return is filed late and that amount is multiplied by the number of members/partners/shareholders.  if this is your first time filing late send back the notice with a written request to abate penalties as this is the first time filing late. also a statement that says steps have been taken to ensure timely filing in the future helps.   the IRS has the final word    

S- Corp. Yes this is my first time. And I filed on 3/28 but the letter says two months delays and fined me $880. 

did you file by mail? it might not have been postmarked until April. Apparently there are two members/stockholders.   your choice is to pay the penalty, the loss is irrrelevant, or as previously stated write back requesting abatement.