My 1120S return was e-filed on March 13th, then rejected. Will resubmitting the e-file now be deemed a late filed S return subject to the $195 per shareholder penalty?

mtzttax · ‎June 4, 2019

My 1120S return was e-filed on March 13th but was also rejected. Unfortunately, it was rejected too late on March 15th to be able to paper file timely at the post office. This is a potentially significant and costly problem as late filed S Corporation returns are subject to a $195 per shareholder penalty per month. Turbotax needs to explain whether resubmitting the return (now after the March 15, 2018 due date) will be deemed a late filed return by the IRS.

WillK · ‎June 4, 2019

No, it will not. The rejection will be recorded by the IRS on their system. E-file the return as soon as you can.

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mtzttax · ‎June 4, 2019

TurboTaxWill, can you provide any IRS support for your conclusion?

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My 1120S return was e-filed on March 13th, then rejected. Will resubmitting the e-file now be deemed a late filed S return subject to the $195 per shareholder penalty?