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Welcome to A. Andrew
Harrison CPA P.C. Certified Public Accountant |
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Form 1065 |
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The basics of the
Partnership tax return: 1- Form 1065 is an information return used to report the income, deductions, gains, losses, etc., from the operation of a partnership. A partnership does not pay tax on its income but “passes through” any profits or losses to its partners. Partners must include partnership items on their tax returns. 2- A domestic partnership must
file Form 1065 by the 15th day of the 4th month following the date
its tax year ended as shown at the top of Form 1065. Every domestic
partnership must file Form 1065, unless it neither receives income nor incurs
any expenditure treated as deductions or credits for Federal income tax
purposes. 3- A penalty is assessed against
the partnership if it is required to file a partnership return and (a)
It fails to file the return by the due date, including
extensions, or (b)
It files a return that fails to show all the information
required, unless such failure is due to reasonable cause. 4-File for an extension of time
to file if you cannot meet the filing due date (Form 4668). ©/2003 to 2009 A Andrew Harrison CPA P.C. love a challenge |
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Industry Look |
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Contact us now |
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718.363.9500 We study the industry for our client's so they would not have to and rate each company based on its industry. |
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