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MISSION C O N C O R D I A I S A C H R I S T I A N U N I V E R S I T Y P R E PA R I N G L E A D E R S F O R T H E T R A N S F O R M AT I O N O F S O C I E T Y. Bachelor of Science in Nursing (BSN)
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CONC stands for Consolidated Return for Corporations.
All corporations that are part of an affiliated group are required to file CONC.
CONC can be filled out electronically using the designated software provided by the IRS.
The purpose of CONC is to consolidate the tax information of affiliated corporations to file a single tax return.
CONC requires detailed financial information of all corporations in the affiliated group, including income, deductions, and credits.
The deadline to file CONC in 2023 is March 15th.
The penalty for late filing of CONC is $100 for each month or part of a month the return is late, up to a maximum of $1,500 or 5% of the unpaid tax liability, whichever is greater.
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