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    #1

    Form 966 Filing

    S corp sold business in late 2005. Returns were filed for 2005 showing profits of sale, etc.

    Corp was closed in 2006 and paperwork and fees filed with state secretary of state. However, Form 966 was not filed. The deadline for filing this form has long past.

    The 1120s will be filed properly. 1099DIV correctly filed.

    What would be the best route to take? Ignore the 966 or file it late? What will be the downfalls of filing it late?

    Thanks to all for your help.
    Only in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut".
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    #2
    Ignore it now

    Had that situation before. Client came in long after the deadline to file the 966, we just filed the return(s) and never heard from theIRS about the missing 966. Filing it late might make them decide to access a penalty after all, when they really hadn't missed it anyway.
    "A man that holds a cat by the tail learns something he can learn no other way." - Mark Twain

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      #3
      Thanks

      That was my inclination, but am always nervous on ignoring things.
      Only in government or politics is a "cut in spending" really an increase. It's just not as much of an increase as they wanted it to be, therefore a "cut".

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