Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

What if I did not file my 1065 with K1s on march 15th? I…

Customer Question
What if I did...

What if I did not file my 1065 with K1s on march 15th? I have a 2 member LLC

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

See above

Accountant's Assistant: Is there anything else important you think the Accountant should know?

I dont think so

Submitted: 1 month ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 3 minutes by:
3/23/2018
Tax Professional: Barbara, Enrolled Agent replied 1 month ago
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,811
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.
Verified

Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

The IRS will assess a late filing penalty of $195 per partner per month or part of a month for which the partnership information return is filed late, with the penalty capped at 12 months.

Once you receive the penalty assessment from the IRS, you can request an abatement of the penalty due to reasonable cause or the First Time Penalty Abatement Waiver.

Please let me know if I can assist you further.

Thank you and best regards,

Barb

Ask Your Own Tax Question
Tax Professional: Barbara, Enrolled Agent replied 1 month ago

Just following up with you to see if you have any other questions. If so, please let me know so I can continue to assist you.

Ask Your Own Tax Question
Was this answer helpful?
Ask Barbara Your Own Question
Barbara
Barbara
Barbara, Enrolled Agent
Category: Tax
Satisfied Customers: 5,811
5,811 Satisfied Customers
Experience: 20+ years of experience in tax preparation; 30+ years of experience as a real estate/corporate paralegal.

Barbara is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,451 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

56 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,124 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
My son was a partner in an LLC last year but the partnership
my son was a partner in an LLC last year but the partnership has dissolved, not on good terms. the "partner" said he was going to file taxes for the LLC but will not give my son paperwork with which t… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
I am doing a partnership and personal return for a man and
I am doing a partnership and personal return for a man and his father. The man is telling me he and his father have agreed for partnership to go from being about 90% owned by father to 90% owned by hi… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
If I am converting an LLC taxed as a partnership to be taxed
Quick question. If I am converting an LLC taxed as a partnership to be taxed as an s corp, would the 1065 for the year prior to the switch be considered a final even though I will be using same ein fo… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
We started an LLC (partnership, Delaware). It was just me
We started an LLC (partnership, Delaware). It was just me and my partner 50/50. We each owned certificates saying such. We each sold 20% to another individual. He made the check out to us personally. … read more
Mike-USACPA
Mike-USACPA
9 satisfied customers
If I file an incorrect return type (i.e., partnership
Hi Barbara,If I file an incorrect return type (i.e., partnership instead of S Corp), and I want to file the S Corp return instead, what would I do for NY and Federal? Thanks.… read more
Barbara
Barbara
Enrolled Agent
5,811 satisfied customers
My wife & I have a partnership in a LLC that owes close to
My wife & I have a partnership in a LLC that owes close to $5000 to the IRS - penalty for being late reporting for the tax year 2013. The LLC is dissolved, but I just got a notice from IRS of a Levy o… read more
Carter McBride
Carter McBride
LLM
973 satisfied customers
I have a LLC in the US. It is a partnership of two
Hi, I have a LLC in the US. It is a partnership of two non-resident aliens. A potential customer is asking us for a W9 which AFAIK we can't sign W9 as NRA. What can we provide as a partnership to the … read more
Barbara
Barbara
Enrolled Agent
5,811 satisfied customers
When filing a final partnership tax return does it matter if
When filing a final partnership tax return does it matter if the ending equity balance of each individual partner is not zero? Basically they total 0 when combined but some partners are positive and o… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
I am applying for a partnership LLC and not sure how to
Good morning, I am applying for a partnership LLC and not sure how to answer line 7a on IRS form SS-4. … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,451 satisfied customers
A multi-member partnership (LLC) made expense allocations to
A multi-member partnership (LLC) made expense allocations to two of its c-corp subsidiaries. Thus, there are three legal entities with their own set of books. For example, the parent incurred $1500 in… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
938 satisfied customers
I have an existing LLC which filed as a partnership and then
I have an existing LLC which filed as a partnership and then as a schedule when it became a one member LLC. I now want to be treated as an s-corp in 2018. Do I need to file both 8832 and 2553 or just … read more
Richard
Richard
Tax Attorney
Doctoral Degree
4,451 satisfied customers
Where do report for Partnership (LLC) returns using Form
Where do report for Partnership (LLC) returns using Form 1065 income recipient from taxable federal grant? Specifically, 1099-G, Box 6.… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
938 satisfied customers
Can a married LLC Partnership file schedule C on their 1040
Can a married LLC Partnership file schedule C on their 1040 with their W2 income? And if so if they fie separate sch C how do they go about it? … read more
Barbara
Barbara
Enrolled Agent
5,811 satisfied customers
I filed my 1065 partnership return for 2016 in April not
I filed my 1065 partnership return for 2016 in April not knowing that it was originally due on March 15th. I received a letter from the IRS with a late filing penalty that I paid in June 2017. In Dece… read more
PDtax
PDtax
Owner
Master\u0027s Degree
1 satisfied customers
I have an LLC that was taxed as a partnership, with two
I have an LLC that was taxed as a partnership, with two members who each owned 50%. My partner is leaving the partnership (as of 12/31/17) and I would now like to continue as an LLC with a sole propri… read more
Barbara
Barbara
Enrolled Agent
5,811 satisfied customers
I have an LLC in CA. Originally it was a partnership, filing
I have an LLC in CA. Originally it was a partnership, filing a 1065 to the IRS. Now, the other partners have left and I want to file as a single member LLC, flowing back into my schedule c. The change… read more
Barbara
Barbara
Enrolled Agent
5,811 satisfied customers
Penalty for late filing of partnership LLC tax return, not
Penalty for late filing of partnership LLC tax return, not eligible for Rev Proc 84-35 relief because one of the partners is a foriegner… read more
Barbara
Barbara
Enrolled Agent
5,811 satisfied customers
I have a penalty for late filing of partnership LLC tax
I have a penalty for late filing of partnership LLC tax returns and looking for examples of reasonable cause Reading about the FTA and checking if we could be eligible … read more
Carter McBride
Carter McBride
LLM
973 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x