Turbo Tax is down anyone know how hefty the penalty will for filing after March 15th deadline?

[beachcat00]

Hello, 

Apparently it is a known issue going on where Turbo isn't able to transmit our returns right now. I am required to file by today's deadline which I just recently found out. Any recommendations on if I  should I file an extension? (Never done that before) I am worried about being penalized when I have all the sections complete, but unable to file due to the error within the system.

TY!

[DoninGA]

Your post is showing you are using the TurboTax Premium online edition.  The March 15 deadline is for Corporate tax returns.  The Premium edition does not support Corporate tax returns.

Are you also using the TurboTax Business Edition installed on a Windows based personal computer for a Corporate or Partnership tax return?

[beachcat00]

Hello,

Thanks for replying! All I know is turbo sent me a notification that  I had until March 15 to complete my taxes to avoid IRS penalties. It stated the business tax deadline is approaching March 15th. "Taxes for partnerships, multi-members LLCs, and S-Corps are due.  Start the process today or file a 6 month extension. 

I am apart of a LLC and receive a K-1, but have every year. The only difference is I have 5 months of self-employed income/expenses. I thought maybe this is why my deadline would be different. I went through the whole program using premier no issue with the forms I input. I just am not able to transmit due to their internal issue. 

So I am just wondering whether to start over somewhere new, file an extension, or take the penalty due to their website is not working and they don't have an ETA on when it will be resolved. 

Thanks again!

[beachcat00]

After trying to 2 days it finally went through. Thanks for responding! 

[DoninGA]

@beachcat00 You are completing your personal tax return even though you entered a Schedule K-1.  You are not filing a Corporate or Partnership return using the TurboTax Premium edition so the filing deadline for your personal tax return, Form 1040, is still April 15, 2024.

[beachcat00]

Thank you I appreciate your information! I will know in the future and to ignore that from now on.