How do you enter  "COVID-19" on a late e filed tax return in an effort to avert late filing penalties?

Labels (1)
0 Cheers
Level 15

I'm thinking typing that is going to do diddly for you.  I don't think the IRS is gong to read that or even care if they do read it.  File the return and deal with the notices, if any come, at that time.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
Level 1

For S corp module, Go to Screen 3.1 Miscellaneous Information and enter in "Explanation on top of Form 1120S" for it to show up on page 1 header.

View solution in original post

Thank you for the information.

I just read an article in Accounting Today that says the AICPA has been working with the IRS on the penalty for late filing in a COVID world, and it was suggested to include "COVID-19" on top of the return.

As another respondent said, it may not make any difference, but it has worked in hurricane returns, which have been prevalent in FL for many years.

Level 13

But the IRS already gave 3 months as an extension for COVID-related reasons.  Did COVID related problems really make it impossible for the client to file (or file an extension) for over 3 months?