FYI ... if this is for a 2021 form 1065 then be aware that the return is now LATE even if it was on extension. The failure to file penalties have been accruing since March so if this is your first time filing then when they send the bill you can beg for a waiver and they usually will do it for the first transgression. The 1065 was due 3/15 and if you put it on extension you have until 9/15.
What is the penalty for filing a Form 1065 late? 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 ... so if you file by the end of Sept the penalty is currently 210 x 4 x 6 = $5040 !!!
