- $30 per information return if you correctly file within 30 days; maximum penalty $250,000 per year ($75,000 for small businesses)
- $60 per information return if you file correctly more than 30 days after the due date but by August 1; maximum penalty $500,000 per year ($200,000 for small businesses)
- $100 per information return if you file after August 1 or you do not file required information returns; maximum penalty $1,500,000 per year ($500,000 for small businesses)
This blog posts answers to questions given to us by ministers and others serving in Christian ministries advancing the gospel of Jesus Christ. It also discusses other financial topics that those in gospel ministries face. We trust the information provided can be helpful to you.