What is the penalty filing late for a Corp

Modified on Fri, 31 Mar 2023 at 09:43 AM

  • If a C corporation fails to file its 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.
  • In addition to the late filing penalty, a C corporation may also be subject to a penalty for late payment if it fails to pay the full amount of tax owed by the due date. The penalty for late payment is typically 0.5% of the unpaid tax for each month or part of a month that the tax is late, up to a maximum of 25% of the unpaid tax.

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