Problem: DLA Inc. was late filing their S corporation return for the current tax year. DLA filed its Form 1120-S on April 15, 2023, and mailed copies of the Schedule K-1s to each of its 50 shareholders on the same date. Not including the late filing penalty for Form 1120-S itself, what amount of additional penalty may be imposed on DLA Inc.?
a) $14,000 b) $22,500 c) $14,500 d)$ 0