topic CP 162 in After you file

CP 162

Paulinho1 — Mon, 10 Aug 2020 21:09:05 GMT

Got a CP162 tax notice issuing penalty for late filing of partnership in 2019,when in fact I had filed before the deadline of 7/15/2020.

Re: CP 162

rjs — Mon, 10 Aug 2020 21:38:56 GMT

The filing deadline for a partnership was March 16, 2020. That deadline was not postponed.

From the IRS web site:

Q. Are the filing deadlines for partnerships and S-corporations whose returns were due to be filed on March 16, 2020, postponed?

A. Notice 2020-23 does not postpone any return filings that were due on March 16, 2020. If a fiscal year partnership or S-corporation has a return due to be filed on or after April 1, 2020, and before July 15, 2020, that filing requirement has been postponed to July 15, 2020. For information about additional relief that may be available to partnerships in connection with the CARES Act legislation, please see Rev. Proc. 2020-23 (PDF).

Filing and Payment Deadlines Questions and Answers

Re: CP 162

Critter-3 — Mon, 10 Aug 2020 21:30:41 GMT

If this was your first partnership return OR you have never been late before ( you should have put the return on extension by 3/15) then you can write them a note and BEG for forgiveness of the penalty using the "I was stupid & didn't realize the deadline was not extended and I will never do it again" excuse (many will be using this excuse this year I bet) ... they may or may not waive the penalties but you can ask NICELY.