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Written & Technically Reviewed by Sarah Lawson, Tax Manager
✓ Verified for 2026 IRS Regulatory Compliance
If you operate an S-Corporation and missed the calendar-year tax deadline of March 16, 2026, you are likely facing significant IRS penalties.
The Exact 2026 Late Filing Penalties for Form 1120-S
The IRS calculates late penalties for S-Corporations based on the number of shareholders and how long the return is delayed:
- The Failure-to-File Penalty: For returns due in 2026, the IRS assesses a late filing penalty of $255 per shareholder, per month (or partial month), for up to 12 months.
- The K-1 Penalty: Failing to provide shareholders with correct Schedule K-1s on time typically results in an additional penalty of about $310 per form.
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About the Reviewer: Sarah Lawson
Sarah Lawson is the Tax Manager at HurainTax. As a core member of our team, she specializes in S-Corporation tax frameworks and penalty abatement strategies, ensuring complete adherence to complex pass-through regulations.