Note:
Internal Revenue Manual Part 3. Submission Processing · 2026-10-03 edition · updated 2026-10-04 · United States
See the table below for base penalty amounts for failure to file and/or failure to file complete Forms 1065, 1066 & Form 1120-S, see, IRM 20.1.2.4.2, Penalty Computation, and IRM 20.1.2.6.2, Penalty Computation, for information on base penalty amounts for previous years not mentioned below.
Form 1065/ 1066/ 1120-S Return Due
Base Penalty Amount
January 1, 2026 and after
$255
Between January 1, 2025 & December 31, 2025
$245
Between January 1, 2024 & December 31, 2024
$235
Between January 1, 2023 & December 31, 2023
$220
Between January 1, 2022 & December 31, 2022
$210
Between January 1, 2021 & December 31, 2021
$210
Between January 1, 2020 & December 31, 2020 (without regard to extension)
$205
Between January 1, 2019 & December 31, 2019 (without regard to extension)
$200
Between January 1, 2018 & December 31, 2018 (without regard to extension)
$200
Between January 1, 2017 & December 31, 2017
$195
The Late filing/Incomplete return penalty amount field displayed in OLNR (OLNR field Ret Pen ) should equal Number of Partners/Shareholders x Base Penalty Amount x Number of Months late. If it does not, and the information on the module is correct, retype the notice to match the information displayed on the module.
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