- If a single-member LLC owner fails to file their personal tax return by the due date (including extensions), the penalty is usually 5% of the unpaid tax for each month or part of a month that the return is late, up to a maximum of 25% of the unpaid tax. If the return is more than 60 days late, the minimum penalty is generally the smaller of $435 or the amount of tax owed.
Was this article helpful?
That’s Great!
Thank you for your feedback
Sorry! We couldn't be helpful
Thank you for your feedback
Feedback sent
We appreciate your effort and will try to fix the article