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
File the return
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).Have something to add? Share your thoughts — no account required.
Ask the community — no account required