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New Member

Business & farm

It seems that the Final Return box was checked and that it was for a short period ending July 2015 (see page 1 of the return on top to verify).  That's why a late filing penalty was assessed.  If you decide to amend and show it as terminating at the end of the calendar year, that would be your call.

If you don't want to amend, you should definitely try to contest the penalty, particularly since the late filing does not affect the filing of the two members' individual returns since they are due by mid-April regardless of when your business return should have been filed.  See the following link which is a good resource for the same situation.

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