Page 23

23 .56 Failure to File Partnership Return. In the case of any return required to be filed in 2026, the dollar amount used to determine the amount of the penalty under § 6698(b)(1) is $255. .57 Failure to File S Corporation Return. In the case of any return required to be filed in 2026, the dollar amount used to determine the amount of the penalty under § 6699(b)(1) is $255. .58 Failure to File Correct Information Returns. In the case of any failure relating to a return required to be filed in 2026, the penalty amounts under § 6721 are: (1) for persons with average annual gross receipts for the most recent three taxable years of more than $5,000,000, for failure to file correct information returns: Scenario Penalty Per Return Calendar Year Maximum General Rule (§ 6721(a)(1)) $340 $4,098,500 Corrected on or before 30 days after required filing date (§ 6721(b)(1)) $60 $683,000 Corrected after 30th day but on or before August 1, 2026 (§ 6721(b)(2)) $130 $2,049,000

(2) for persons with average annual gross receipts for the most recent three taxable years of $5,000,000 or less, for failure to file correct information returns: Scenario Penalty Per Return Calendar Year Maximum General Rule (§ 6721(d)(1)(A)) $340 $1,366,000 Corrected on or before 30 days after required filing date (§ 6721(d)(1)(B)) $60 $239,000 Corrected after 30th day but on or before August 1, 2026 (§ 6721(d)(1)(C)) $130 $683,000