Tax Information For Partnerships
2008 Changes to Form 1065 - Frequently Asked Questions
Form 1065 has a number of changes for 2008. For example, Schedule B and Schedule K-1 require reporting of ownership percentages. The FAQ page on Form 1065 changes offers helpful examples.
Extension Due Date for Most 2008 Partnership Returns is September 15, 2009
Only a 5-month extension is available for 2008 partnership returns filed in 2009. See 2008 Form 1065 instructions page 4 "When to File" and the instructions to 2008 Form 7004 Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and other Returns.
Forms 1120 and 1065 and Related Schedules and Instructions for 2008
Forms 1120 and 1065, and several related schedules and instructions, released July 2008 for public comment, are now final. Changes to the forms increase the transparency of the relationship between entities that make up complex business enterprises.
Schedule M-3 for Certain Form 1065 Partnership Returns
Schedule M-3, "Net Income (Loss) Reconciliation for Certain Partnerships", will be filed starting with tax years ending on or after December 31, 2006.
Partnership - Audit Techniques Guide (ATG)
The focus is on issues that fall within sections 701 through 761 of the Code (Subchapter K). Subchapter K deals primarily with the formation, operation, and termination of partnerships. Many issues arise during the initial or final year of the partnership.
Starting a Business
If you’re considering starting a business, then start here. This section provides links to everything from a checklist for a new business to selecting a business structure and more.
Partnership Income or Loss
A partnership computes its income and files its return in the same manner as an individual. However, certain deductions are not allowed to the partnership.
Notification of Possible Filing Requirement
This reminder is being issued to alert partnerships that they may have an additional filing requirement with the Internal Revenue Service related to a foreign partner(s) on their partnership return.
Modernized e-file (MeF) for Partnerships
This web site provides an overview of electronic filing and more detailed information for those partnerships that prepare and transmit their own income tax returns using MeF. Partnerships that rely upon third party tax professionals to prepare and transmit their tax returns should consult their tax professional.
A partnership is the relationship existing between two or more persons who join to carry on a trade or business.
Extension of Time to File Your Tax Return
Need more time to prepare your federal income tax return? This page will direct you to information on how to apply for an extension.
Publicly Traded Partnerships
This page contains information related to publicly traded partnerships that have effectively connected income, gain, or loss and who must pay withholding tax on any distributions of income made to its foreign partners.
Page Last Reviewed or Updated: March 03, 2009