Are there any penalties for a c-corp that has not filed any returns or files them years later. There is no income tax due since the corp has always operated at a loss. No estimated tax payments were made either.
if there is no tax due, generally there are no penalties.
although, lately I’ve seen exactly one where if you just didn’t file a return, they will tag you with negligence penalties.
Thanks, Mark.
It sounds like the best plan is to file a return with all zeros starting at the year the EIN was granted? Then, file the 2007 return as the final return.
that’s safe. probably no negative consequences.