DTNY07
Level 7
04-20-2021
09:28 PM
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I had that issue with an S corporation almost 20 years ago when i was first starting out. Yes, they are correct. The extension had to be filed within 2 1/2 months after the closing date. If the partnership didn't have that type of penalty in the past 5 years, you should be able to get it waived. Or you can use the first time penalty waiver (if they haven't had that before)