Form 1065 is what a large partnership files with the IRS stating its profits, losses, deductions, and credits, as well as its partners' shares of the same. Form 1065-B may be used in rare circumstances to pay taxes, most partnerships do not pay taxes directly and the tax liability is passed through to each partner.
So, who is required to submit Form 1065? That’s a question that demands a firm and certain answer. Companies that may be required to file Form 1065 include general partnerships, limited partnerships, and limited liability companies. There are things that you should know about this required document.
When you trust CPA Michael Mathews with all of your corporate tax matters you don’t have to be an accountant yourself. Michael has been a financial friend to business owners throughout the Vegas Valley for many years. For all of your accounting and tax preparation needs make an appointment at his 2620 Regatta Drive Suite 102 office by calling (702) 240-5237.