The penalty for late filing of Form 990 depends on the organization's gross receipts and the number of days the return is overdue. 1. For organizations with gross receipts less than $1 million: - If the return is filed no later than 30 days after the due date, the penalty is $20 per day. - If the return is filed more than 30 days after the due date but before the IRS mails a notice for failure to file, the penalty is $20 per day, up to a maximum of $10,000 or 5% of the organization's gross receipts, whichever is less. - If the return is filed after the IRS mails a notice for failure to file, the penalty is $20 per day, up to a maximum of $50,000 or 5% of the organization's gross receipts, whichever is less. 2. For organizations with gross receipts equal to or greater than $1 million: - If the return is filed no later than 30 days after the due date, the penalty is $100 per day. - If the return is filed more than 30 days after the due date but before the IRS mails a notice for failure to file, the penalty is $100 per day, up to a maximum of $50,000. - If the return is filed after the IRS mails a notice for failure to file, the penalty is $100 per day, up to a maximum of $100,000. It's important to note that these penalties can be adjusted for inflation and may be subject to additional penalties for intentional disregard of the filing requirements. It is advisable to consult the official IRS guidelines or seek professional advice for accurate and up-to-date information.