1065

bihl-miran — Wed, 17 Sep 2025 17:35:45 GMT

I am late filing my 1065s. On one the LLC had no revenue/income for the yer. Do I have to file a zero return? How much is the penalty. The other is for a negative rental 1065. Thank you

Re: 1065

dev145 — Wed, 17 Sep 2025 17:53:37 GMT

A domestic partnership must file an information return, unless it neither receives gross income nor pays or incurs any amount treated as a deduction or credit for federal income tax purposes.

You mentioned, you do not have any revenue but what about expenses? If this is not a first year, is there any depreciable assets from prior year, since this will generate depreciation expense. You might also have expense like tax prep. fee for last year, company state renewal fee etc. So if you have any deductible expenses, you are required to file the return.

The failure to file penalty is charged for each month (or partial month) the failure continues, for up to 12 months.

Here is a table from IRS that shows penalty for each year along with link.

Return due date (without extension)	Base penalty rate
After 12/31/2024	$245.00
Between 01/01/2024 and 12/31/2024	$235.00
01/01/2023 to 12/31/2023	$220.00
01/01/2021 to 12/31/2022	$210.00
01/01/2020 to 12/31/2020	$205.00
01/01/2018 to 12/31/2019	$200.00
12/31/2009 to 12/31/2017	$195.00

https://www.irs.gov/payments/failure-to-file-penalty

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1065

Re: 1065