Failure to File a Partnership Return
| Code Section | 6698(a)(1); or 26 U.S.C. 6698(a)(1) |
|---|---|
| Code Text |
(a) General rule (1) fails to file such return at the time prescribed therefor (determined with regard to any extension of time for filing),
such partnership shall be liable for a penalty determined under subsection (b) for each month (or fraction thereof) during which such failure continues (but not to exceed 12 months), unless it is shown that such failure is due to reasonable cause.
|
| Penalty Calculation |
The penalty applies at the rate of $195 per partner per month. |
| Special Rule(s) |
The penalty is assessed against the partnership. |
| Average Amount Penalized in 2010 |
$1,186 (includes all delinquency penalties) |
| Average Amount Abated in 2010 | $2,434 |
| Final Amount IRS Assessed | $336,554,000 |
| Teogatha Law Penalty Abatement Service |
Teogatha Law will review your penalty notice, hold conference calls with you, prepare a power of attorney form, communicate with the IRS on your behalf, collect and inspect IRS records, conduct legal research, draft a penalty abatement letter, and notify you of the IRS's decision. Penalty Abatement Service. |
| Reasons for Abatement | Reasonable Cause, Undue Hardship, Erroneous IRS Advice, Erroneous Tax Advisor Advice, Disaster, Revenue Procedure 84-35 |
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