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joegarcia
Level 3
March 12, 2023
Question

What is the IRS penalty for not filing Form 1065 for over 10 years, the partnership was inactive and had no income and expenses during the 10 years.?

  • March 12, 2023
  • 1 reply
  • 10 views
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1 reply

sjrcpa
sjrcpa
Level 15
March 12, 2023

It's $XX per month per partner per year up to 6 months.

$XX changes every year, at least for the last 5 or 6 years or so.

Interest gets added.

But were they required to file if no items of income or deduction?

The more I know the more I don’t know.
    J
    joegarciaAuthor
    Level 3
    March 12, 2023

    But were they required to file if no items of income or deduction?

     

    Great question, I need guidance on this question as well.  Is a partnership with no income or expense required to file?

    sjrcpa
    sjrcpa
    Level 15
    March 12, 2023

    Read the 1065 instructions under Who Must File

    The more I know the more I don’t know.
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