Maybe I am confusing the personal tax returns and their extensions with the S-Corps. The S-Corp profits (or losses) flow to the personal TP's tax return with a fililng deadine of Apr 18, 2011. Can the IRS still penalize the S-Corp for not filing the S-Corp on or before March 15, 2011 even though an extension prior to March 15, 2011 was filed?
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The S-Corp penalty is the per shareholder $50 per month. Can't see how that could be leived if an extension was filed.In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
Alexis de Tocqueville -
Dave from Lincoln, Ne, I believe you are correct..
I just found something regarding 2007 and the penalty is for those S-Corps who did not file on or before 3/15/2008 unless they filed an extension then they have to file on or before 9/15/2008 to avoid penalty.Comment
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