We are not allowed to change the penalty based on subsequent tax adjustments. However, this option is available to audit. In electing to file on this basis, a corporation must agree to file Form 100DDS, Domestic Disclosure Spreadsheet, every 3 years. Failure to provide this information fully and timely may result in the assessment of penalties. For complete information, the penalty is assessed at the same rate as a delinquency penalty.
Interest is assessed from the date of notification.