Form 1065 Step-by-Step Instructions (+ Free Checklist)
Form 1065 is the tax return used by partnerships to report business income and expenses. Multimember limited liability companies (LLCs) not being taxed as S corporations (S-corps) also must file Form 1065. While Form 1065 doesn’t generate a tax liability, it’s very important to complete it on time and accurately. The penalty for a late…