Question

received IRS notice CP162A, "Failure to file penalty"

Forum|Forum|4 years ago
April 27, 2022
1 reply
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I started 2 LLC's in 2020 (partnership), and filed Form 1065 for both in 3/2021 and 3/2022, by "turbotax business". I have screen shots supporting successful submission and acceptance of both tax-filling in both years.

then received notice CP162A with tax period "4/30/2021", stating "8months late", asking for penalty of $210 per partner per month.

then another CP162A for the other LLC for tax period "11/30/2021". stating "1month late". asking for penalty of same $210 per partner per month.

I have no idea what I was late for, and why the second notice has a different tax period and "1 month late".

I tried to call IRS, everyday for the past 4 weeks, I always got "I am sorry Due to extremely high call volumes, we are not able to handle your call today. please try again another day".

the IRS website is not very helpful on what I was late for.

any of you have similar issues?

thank you for the attention.

Not A Product Question

S

SweetieJean

Employee

Is the Partnership's tax year something other than the calendar year? Form 1065 is due on the 15th day of the third month after the end of the partnership's tax year.

A

apple-Sweet-zAuthor

we dissolved both LLC's in year 2021 (4/2021 and 11/2021).

"1065 instruction" states,

"When To File
Generally, a domestic partnership must file
Form 1065 by the 15th day of the 3rd month following the date its tax year ended as
shown at the top of Form 1065. For calendar
year partnerships, the due date is March 15."

is the due date for filing Form 1065 on Terminated partnerships different? Is it not "calendar year"?

Thank you so much!