$205 for each member of the partnership for each month or partial month that the return is late for up to 12 months. The following penalties are incurred if the return is filed after the regular or extended due date of the return: The IRS will penalize you for the following reasons in regards to Form 1065: Connecticut, Delaware, District of Columbia, Georgia, Illinois, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Vermont, Virginia, West Virginia, WisconsinĪssets below $10 million and no M-3 was filed.Īssets of $10 million or more OR less than 10 million but M-3 was filed.Īlabama, Alaska, Arizona, Arkansas, California, Colorado, Florida, Hawaii, Idaho, Iowa, Kansas, Louisiana, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Mexico, North Dakota, Oklahoma, Oregon, South Dakota, Texas, Utah, Washington, Wyoming