Discover how IRS Form 1065 helps partnerships report income and deductions. Learn how it’s crucial for completing partners’ tax returns with Schedule K-1 allocations.

The Internal Revenue Service has posted new information about how to handle possible processing errors when electronically filing Form 1065, "Return of Partnership Income," and ways to avoid them. In ...

The Internal Revenue Service released an early draft Thursday of the instructions for Form 1065, U.S. Return of Partnership Income, with newly revised directions for how partnerships should report on ...

The Internal Revenue Service has issued a revenue procedure giving some partnerships extra time to file a Form 1065 and the accompanying Schedule K-1 as long as they haven’t opted out of the IRS’s new ...

On February 16, 2022, the IRS issued a news release along with a set of “Frequently Asked Questions” on new Schedules K-2 and K-3, which must be filed with IRS Forms 1065, 1120-S and 8865. This ...

Are you a member of a partnership or of a limited liability company that is treated as a partnership for tax purposes (a “partnership”)? Did your partnership file its 2016 tax return late this year?

Discover the differences between limited, general, and joint venture partnerships and learn how each impacts liability, taxes ...

On April 8, 2020, the IRS released Revenue Procedure 2020-23 (the Revenue Procedure), which provides guidance for partnerships subject to the centralized partnership audit regime under the Bipartisan ...

The Internal Revenue Service released drafts of the two critical partnership forms for 2019. The proposed versions of Form 1065, “U.S. Return of Partnership Income” and Schedule K-1, “Partner’s Share ...

The IRS has proposed adding two new schedules to Form 1065, U.S. Return of Partnership Income, to help standardize the format in which partnerships report international tax items, beginning with tax ...