The IRS assesses delinquency penalties against a late-filed business return with Notice CP162. The procedures for fighting this IRS action are essentially the same as for Individuals. However, the owner of the business is not personally liable for the penalty of the business.
Response to Notice CP162
If you have had no "significant" penalty problems or late-filing within the last 3 years you may qualify for the "one-time" penalty abatement. There is no special form for this so the request will have to be individually constructed. Please contact Mr. Hopkins for the particulars.
Otherwise, please follow the Penalty Prep Steps so these penalties can be reduced or eliminated.