Unlike Form 941, There Is No Penalty for the Late

question 56

True/False

Unlike Form 941, there is no penalty for the late filing of Form 940.

---

Definitions:

Elected Officials

Individuals who have been chosen through a democratic voting process to hold public office and represent the interests of their constituents.

Government Agencies

Organizations established by a government to perform specific functions or services aligned with governmental policies and regulations.

Public Service Announcement

A message broadcasted to the public to inform, educate, or promote awareness on issues of public interest, often sponsored by a government or nonprofit organization.

Stigma

A mark of disgrace or infamy associated with a particular circumstance, quality, or person, often resulting in discrimination or social exclusion.