I am a 1st time owner filing a Short Tax Year 2017. I just realized filing deadline for the business tax is 3/15/18. Is the First Time filer penalty abatement there still

[greenlanai1]

Just checking if there's some kind of a late filing penalty waiver or reduction for first time filers of business taxes (It's a two member LLC that started in Oct 2017). I for some reason thought business taxes are due on 4/15 as well but just learned I was wrong and just finished filing. Thanks!

[IsabellaG · Accepted solution]

Yes, you may qualify for First Time Penalty Abatement. This waiver applies to Failure-To-File  and Failure-To-Pay penalties.

You can apply for penalty abatement in writing or over the phone (1-800-829-1040)  . There is no particular form for you to use. There are many online discussions of this issue which you may want to review, including this link: https://www.thetaxadviser.com/issues/2013/jul/buttonow-july2013.html