so i just realized we may have forgotten to do a first short period extension filing for a 2019 acquisition. minimal activity and not anticipating any taxable income.

what’s the projected fall out from this? anyone ever file a federal return late? i’m guessing it’s too late to file the extension so might as well submit the return ASAP

like
Posting as :
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You are currently posting as works at

As others mentioned, should be only failure to file and chances are you can use first time abatement to get the penalties, if any, waived.

No big deal, shit happens.

likeuplifting

The taxpayer needs to qualify for first time abatement, meaning at least of 3 years of clean penalty history. If they cannot qualify FTA, you can request to abate based on reasonable cause ground, which is harder but still possible.

Time to runnnnnnn

like

Yeah the irs agents are coming for you dressing in black suits and driving unmarked black cars

I think you may be able to file an extension after the date, but you need to request the relief, unlike an automatic extension. I think it’s called 9100 relief or some like that.

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