The penalty for the late filing of an IRS Form 990 (Annual Return/Report of Organization Exempt from Income Tax) can vary depending on the circumstances. The penalty amount is generally calculated based on the organization's gross receipts. For organizations with gross receipts exceeding $1 million, the penalty is $20 per day for each day the return is late, with a maximum penalty amount of $10,000 or 5% of the organization's gross receipts, whichever is less. For organizations with gross receipts of $1 million or less, the penalty is $20 per day for each day the return is late, with a maximum penalty amount of $5,000 or 0.5% of the organization's gross receipts, whichever is less. If an organization fails to file the Form 990 for three consecutive years, there is an additional penalty of $10 per day for each day the return is late, with a maximum penalty amount of $20,000. It's important to note that these penalty amounts are subject to change, and there may be additional penalties or consequences for repeated non-compliance. It is always recommended to consult with a tax professional or the IRS for the most up-to-date information and specific details regarding penalty calculation.