IRS Form 1065
U.S. Partnership Tax Return Preparation
$1000
- Form 1065 Preparation U.S. Partnership income tax return
- All Required Schedules Schedules B, K, K-1, L, M-1, M-2 (as applicable)
- Partner Schedule K-1 Preparation Individual Schedule K-1 for each partner
- Income & Expense Allocation Review
- Federal Filing & E-Filing (when eligible)
- Capital Account & Distribution Reporting
Who is this for?
Complete federal tax filing for U.S. Partnerships
If your business is structured as a partnership or multi-member LLC taxed as a partnership, you are required to file Form 1065 annually, even if there was no profit.
Partnerships are pass-through entities. Income, deductions, and credits flow to partners through Schedule K-1. Proper reporting requires accurate allocation of income, reconciliation of capital accounts, and distribution tracking. We ensure your return and K-1s are prepared accurately and on time.
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Frequently asked questions
When is Form 1065 due?
Form 1065 is generally due on the 15th day of the 3rd month after the partnership’s year-end (March 15 for calendar-year partnerships). Extensions are available if filed on time.
What happens if my partnership files late?
Late filing penalties are assessed per partner, per month. Even if no tax is due at the entity level, penalties may apply for failure to file on time.
Does a partnership pay federal income tax?
No. Partnerships are pass-through entities. Income, deductions, and credits flow to partners via Schedule K-1 and are reported on their individual tax returns.
What is a Schedule K-1?
Schedule K-1 reports each partner’s share of income, deductions, credits, and distributions. Each partner must receive a K-1 to properly file their individual return.
Do I need to file if there was no activity?
In most cases, yes. An annual filing is generally required to maintain compliance.
