Late filing? ? ?


R

Ray

I just started to file our 1120-H tax return for our housing
coop and to my chagrin discovered that it was supposed to be
filed on March 15, not April 15 as personal income taxes are
due to be filed.

We never pay any taxes - income is always offset by expenses.

What should I do?
 
Last edited by a moderator:
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F

Frederick Lorca

I just started to file our 1120-H tax return for our housing
coop and to my chagrin discovered that it was supposed to be
filed on March 15, not April 15 as personal income taxes are
due to be filed.

We never pay any taxes - income is always offset by expenses.

What should I do?
Just go ahead and file it. If there is no tax due you won't
be penalized or charged any interest.

Frederick Lorca
 
Last edited by a moderator:
H

Herb Smith

Ray said:
I just started to file our 1120-H tax return for our housing
coop and to my chagrin discovered that it was supposed to be
filed on March 15, not April 15 as personal income taxes are
due to be filed.

We never pay any taxes - income is always offset by expenses.

What should I do?
File the return
 
Last edited by a moderator:
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S

Shyster1040

File it as soon as possible, if you're more than 60 days
late, you will owe a late filing penalty of $100 even if the
return doesn't reflect any tax liability. See Code Sec.
6651(a)(flush language).
 
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