The IRS issued on June 14, 2023 a draft of the Form 1065, Schedule K-1 for 2023. There are no instructions yet (which may take several months to get released). Here is a recap of the changes that will ...

The Internal Revenue Service has issued a revenue procedure giving some partnerships extra time to file a Form 1065 and the accompanying Schedule K-1 as long as they haven’t opted out of the IRS’s new ...

With the partnership business structure, the company files a Form 1065 tax return for the business, but the individual partners claim business profits and losses on their individual tax returns. Each ...

Limited liability companies, or LLCs, are legal business structures formed by filing documents with the state. The Internal Revenue Service automatically treats LLCs with more than one owner as a ...

The Internal Revenue Service released drafts of the two critical partnership forms for 2019. The proposed versions of Form 1065, “U.S. Return of Partnership Income” and Schedule K-1, “Partner’s Share ...