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Get your taxes done using TurboTax
TurboTax will not let you know the amount of the penalty.
The penalty is $210 for each month or part of a month (for a maximum of 12 months) the failure continues, multiplied by the total number of persons who were partners in the partnership during any part of the partnership's tax year for which the return is due.
You should file your return as soon as possible and wait for the IRS to send you a letter (which may never happen, anyway).
March 30, 2022
4:31 PM
1,256 Views