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What is the penalty for filing Form 1065 late?

The IRS charges $220 per partner per month for a late partnership return, starting from the original due date. The penalty grows each month the return stays unfiled and is separate from any tax owed by the individual partners.

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Check your EIN confirmation letter (CP 575) first. If that is gone, look at a previously filed tax return, a business bank account application, or any 1099 you have issued. Your bank or your payroll provider will also have it on file.

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