Partnership Tax

Partnerships must file a partnership tax return (Form 1065) and provide a Schedule K-1 to the IRS and each partner every year.  Partners report this profit and loss information on their individual tax returns.  Also, partners must estimate the amount of tax they will owe for the year and make payments to the IRS (and usually to the appropriate state tax agency) each quarter to avoid penalties. See the posts below for more partnership tax information by subject.

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