penalties for S-Corporations filing "1099 Misc" late ?

[ihot]

What is the name of your state? CA

Will there be any penalties for my S-Corporations filing "1099 Misc" late with the IRS? In 2006 my S Corp paid me rent for the office space (which I will personally filed as Rent in Supplemental Income on Schedule E) I have not yet filed my 1040 nor my Schedule E.

Thanks

 

[LdiJ]

What is the name of your state? CA

Will there be any penalties for my S-Corporations filing "1099 Misc" late with the IRS? In 2006 my S Corp paid me rent for the office space (which I will personally filed as Rent in Supplemental Income on Schedule E) I have not yet filed my 1040 nor my Schedule E.

Thanks

Yes, there is a late filing penalty. I believe its 150.00 However I am not absolutely certain of the amount of the penalty.