US PARTNERSHIP & LLC TAX SERVICES
Expert Form 1065 tax preparation for partnerships and multi-member LLCs — accurate partnership tax return filing with correctly allocated Schedule K-1s. Your dedicated partnership tax preparer for US, delivering on time, every year.
Form 1065 (U.S. Return of Partnership Income) is the annual information return filed by partnerships and multi-member LLCs taxed as partnerships. Unlike a corporation, a partnership does not pay income tax itself — income, deductions, gains and losses "pass through" to the individual partners, who report their share on their personal Form 1040 via Schedule K-1.
Our partnership tax return filing service ensures your Form 1065 is accurate, every partner's K-1 correctly reflects their allocated share, and the return is filed by the deadline — avoiding the steep per-partner, per-month late filing penalties the IRS imposes on partnerships.
Key deadlines: March 15 — standard filing deadline for calendar-year partnerships (earlier than individual returns, so K-1s reach partners in time for their own filing). September 15 — extended deadline with Form 7004. Late filing penalty: $220+ per partner, per month late (IRS-indexed annually).
Our LLC partnership tax filing services cover every partnership structure:
Two or more individuals or entities carrying on a business together without a formal liability-limiting structure — filing Form 1065 with equal management rights and shared liability.
Partnerships with general partners (managing, unlimited liability) and limited partners (passive investors, liability limited to investment) — common in real estate and investment structures.
LLCs with two or more members that have not elected corporate taxation — taxed by default as partnerships, filing Form 1065 with member-level K-1 allocation.
Professional services partnerships (law firms, accounting firms, medical practices) providing liability protection to partners while retaining partnership tax treatment.
Investment partnerships holding rental or commercial property — with complex allocations for depreciation, debt-financed distributions and Section 754 elections.
Partnerships with foreign partners — requiring Form 8804/8805 withholding compliance, and coordination with foreign partners' home-country tax obligations.
Our Form 1065 tax preparation covers all associated schedules and elections:
Partnership taxation is one of the most technically demanding areas of the US tax code. Our partnership tax preparer US team understands the nuances that generic tax software cannot handle:
Partnership allocations must follow the partnership agreement's economic terms — special allocations, guaranteed payments and capital account maintenance rules under Section 704(b) all interact in ways that require careful analysis. A single error in K-1 allocation can trigger amended returns for every partner, not just the partnership. Debt allocation (recourse vs non-recourse), at-risk limitations and passive activity rules further complicate loss deductibility at the partner level. Our team reviews the partnership agreement itself — not just the trial balance — to ensure allocations are both technically correct and consistent with what partners actually agreed to.
We review the partnership agreement, prior-year return, trial balance and capital account records — understanding the specific allocation terms before preparing anything.
We reconcile the partnership's book income to taxable income — identifying permanent and timing differences, and preparing Schedule M-1/M-2 accordingly.
We allocate income, deductions, credits and capital changes to each partner per the agreement's terms, and prepare individual Schedule K-1s ready for partner distribution.
We review the complete return with the managing partner, address any questions, then e-file Form 1065 with the IRS — well ahead of the March 15 deadline where possible.
We distribute K-1s to all partners promptly so they can meet their own individual filing deadlines, and remain available for any partner questions about their allocation.
AAPT & Associates combines US tax specialists with ICAI-qualified accountants to deliver LLC partnership tax filing services that get the technical details right — correct K-1 allocations, proper basis tracking and full compliance with Section 704(b) capital account rules. Our partnership tax return filing clients range from two-member LLCs to multi-partner real estate and professional services partnerships — each requiring the specific allocation logic their partnership agreement dictates. We prepare the return early enough that partners receive their K-1s in time for their own 1040 filing.
Every domestic partnership — including general partnerships, limited partnerships, LLPs and multi-member LLCs taxed as partnerships — must file Form 1065 annually, regardless of whether the partnership has taxable income. Our Form 1065 tax preparation service covers all partnership structures.
The standard deadline for partnership tax return filing is March 15 for calendar-year partnerships — earlier than the individual deadline so partners have time to include K-1 information on their own returns. An extension to September 15 is available via Form 7004.
Late filing penalties for Form 1065 are calculated per partner, per month — currently $220+ per partner per month late (up to 12 months), meaning a 5-partner partnership filing 3 months late faces a penalty exceeding $3,300. Our partnership tax preparer US team prioritises early completion to avoid this entirely.
A multi-member LLC is taxed as a partnership by default under IRS "check-the-box" rules — no separate election is required. Our LLC partnership tax filing services handle Form 1065 preparation for multi-member LLCs exactly as we would for a traditional partnership, including member-level K-1 allocation.
Schedule K-1 reports each partner's individual share of the partnership's income, deductions, credits and capital account activity. Every partner needs their own K-1 to correctly report partnership income on their personal Form 1040. Errors in K-1 allocation can require amended returns for every affected partner — which is why accuracy in Form 1065 tax preparation matters so much.
Yes. Our partnership tax return filing service includes Form 8804/8805 withholding compliance for partnerships with foreign partners, and coordination on treaty benefits and reporting obligations that arise from cross-border partnership structures — an area we have particular depth in given our India-US practice.
Partnership penalties add up fast. Talk to our team early — we prepare Form 1065 well ahead of the March 15 deadline so every partner has what they need.
