Effective on January 1st Information Return penalties will change.  If you file the A1-R, Form 165, Form 120S (when the S Corporation is not subject to tax), or Form 99, you need to be aware of these changes.  The penalty for failing to file, filing late (including extensions) or filing an incomplete Information Return is $100 for each month, or part of a month, that the failure continues, up to a maximum penalty of $500.  Additional information on the penalties is available in the instructions for the forms or from Taxpayer Information and Assistance at 602-255-3381.