Who Files Form 1065:
Partnerships, including limited and limited liability partnerships (LLPs), are required to file Form 1065.

Filing Deadline:
Filing Form 1065 deadline is March 15th for calendar-year partnerships. An extension of time to file pushes the deadline to September 15th.

Information Required:
Form 1065 requires the partnership to report its income, deductions, gains, losses, and other information. It includes details on the partners and their respective shares of the partnership's income and losses.

4. Schedule K-1:
Each partner receives a Schedule K-1, which outlines their share of the partnership's income, losses, and credits. Partners use this information to report their share of the partnership's items on their tax returns.

5. Electronic Filing:
Partnerships with more than partners are required to file Form 1065 electronically. However, electronic filing is encouraged for all partnerships as it helps expedite processing.

6. Tax Payments:
While the partnership doesn't pay income tax, it must allocate its income and losses to the individual partners. Partners report this information on their tax returns and pay any taxes owed.

7. Penalties for Late Filing:
Failing to file Form 1065 by the deadline can result in penalties. It's essential to either file on time or request an extension.

8. Amended Returns:
If there are errors or omissions on the original Form 1065, an amended return (Form 1065X) can be filed to correct the information.

9. Changes in Ownership:
If there are changes in the ownership or structure of the partnership during the tax year, these changes must be reported to the IRS.

10. State Filings:
In addition to the federal filing, partnerships may also have state filing requirements. Each state has its own rules regarding partnership taxation.

Partnerships should consult with a tax professional or accountant to ensure accurate completion of Form 1065 and compliance with all applicable tax laws. Tax regulations can change, so staying updated on the latest requirements is crucial.