What is the penalty filing late as a single Member LLC

Modified on Fri, 31 Mar 2023 at 09:39 AM

  • 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.

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