Q:
Would a partnership that fails to provide a noncorporate partner with a NRK-1 and/or RK-1 a corporate partner with a Schedule H – Corp. be subject to the penalty in Section 352 (f)(2) and/or Section 352 (f)(3)?
Would the penalty in Section 352(f)(2) and/or Section 352(f)(3) be imposed separately on each NRK-1, RK-1 and Schedule H – Corp. that a partnership fails to file?
A:
Yes. Each return would be counted individually for calculation of the penalty