Business & farm

If your partnership is a calendar year business then the 2019 return is now LATE and is racking up the penalties for late filing monthly ... it was due 3/15 unless it was put on extension then you had until 9/15 so file the return ASAP. 

 

According to the IRS, “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.”