Partnerships are not subject to income tax at the entity level. Instead, they operate as pass-through entities, meaning the partnership’s income, deductions and credits flow directly to the individual ...

Discover how IRS Form 1065 helps partnerships report income and deductions. Learn how it’s crucial for completing partners’ tax returns with Schedule K-1 allocations.

Taxpayers often use entities characterized as partnerships for federal income tax purposes to conduct their business activities. In addition to offering limited liability (e.g., limited liability ...

WASHINGTON -- Millions of Americans will be able to start preparing to file their taxes Friday when the IRS Free File Guided Tax Software goes live. The program offers free tax filing services through ...

The Internal Revenue Service has been stepping up its audits of large partnerships lately, but partnerships have some ways to correct errors on the returns they've already filed to help them avoid ...