Imagine suddenly getting a 25k invoice from the IRS. YUM!<p>Then waiting for 2 years ( due to a backlog in the IRS ) for their response letter stating you dont own them jack. SUPER YUM![0]<p>Sorry I just had to share this tiny little win...and lesson LEARNED!<p>The penalty, however, can be abated if the reporting corporation demonstrates that its failure to timely file the required forms was due to reasonable cause. Notably, there is a relaxed reasonable-cause standard for “small” corporations (gross receipts are $20 million or less) that have limited presence in, and contact with, the United States.[1]<p>[0]<a href="https://www.dropbox.com/s/knk1cj4xioljve2/Screenshot%206-7-21%20at%207.18.29%20PM.png?dl=0&capture=true" rel="nofollow">https://www.dropbox.com/s/knk1cj4xioljve2/Screenshot%206-7-2...</a><p>[1]<a href="https://www.hodgsonruss.com/newsroom-publications-10625.html" rel="nofollow">https://www.hodgsonruss.com/newsroom-publications-10625.html</a>