Penalty for late filing 990 Form

Penalty for late filing 990 Form: What You Should Know

B)) of the tax that has not been due but not corrected plus 1 1/2 percent (Sec. 6662(c)(~~~) per month ~~~ for up to 12 months. B) Penalties for late filing Form 990-T organizations that fail to file their return by the due date (including extended deadlines) are  penalties of 15% of the last tax period's tax due plus 1 1/2 percent (Sec. 6662(c)(~~~) per month ~~~ for up to 12 months. C) Penalties for late filing Form 990-T organizations that fail to file their return by the due date (including extended deadlines) are penalties of 20% of the first tax period's tax due plus 1 1/2 percent (Sec. 6662(c)(~~~) per month ~~~ for up to 12 months. D) Penalties for late filing Form 990-T organizations that fail to file their return by the due date, including extended deadlines, are penalties of 25% of the first tax period's tax due plus 1 1/2 percent (Sec. 6662(c)(~~~) per month ~~~ for up to 12 months. The penalty on these payments is reduced by the difference between the amount of time the late filing is due and the time of payment. E) Penalties imposed under subparagraph C, D or E, but not both, may, at the election of an organization, be prorated to the period of late filing within the two-year period ending with the month when that penalty was imposed. For example, if the penalty for making late payments is 5%, the penalty of 10% when paid within the first 12 months, 20% when paid within the second 12 months and 25% when paid within the first 3 months of the following tax year is not to be deducted in computing the penalty. ~~~) Sec. 6662(c) is not to be used as a basis for determining the tax due on certain charitable contributions. Sec. 6662(c) penalties — Taxpayer Assistance Corporation S.C. Reg. Sec. 56-14.0-4 (2009) Sec. 6662(d) penalties — Taxpayer Assistance Corporation S.C. Reg. Sec. 56-14.0-7 (2009) Sec.

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