I am about to file a 2010 S-Corp that inc back in 2006. 1 Shareholder. I did a quick Google and located form 843. It does list several forms including 1120 but no 1120s. The shareholder tells this is the first time since they inc that they had a late filing. If form 843 is the correct form, I was planning on completing it and including it with the 2010 tax return. The 2011 S-Corp will be timely. I was succesful earlier this year abating a penalty on another S-Corp that filed late.
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IRS says...
Not to include request for abatement with return, but to wait for bill. You can really just write a letter. Or, if the taxpayer has a clean record, you may be able to get an abatement over the phone. How did you handle your other successful abatement request?Evan Appelman, EA -
Got abatement over the phone
S-Corp closed early in 2011 and shareholder didnt notify me therefore it was a late filing. Shareholder received penalty notice I was able to take care of it over the phoine due to S-Corp had clean record but man did the lady at the IRS give me a tongue lashing.Comment
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FYI 2008 is the first year IRS started penalizing late 1120S's. A late 2006 1120S would have no penalty.Comment
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