- NY Credits : 2.0
- TX Credits : 2.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 2.0
Form 1065 - General Filing Considerations
Most practitioners deal with Form 1065, U.S. Return of Partnership Income, on a regular basis. This program examines which entities are required for file Form 1065, the regular and extended due dates, the authorized private delivery services, where to file Form 1065, who is authorized to sign the return, taxpayer and preparer penalties, the General Information section on Page 1 of Form 1065, the Other Information section on Page 2 of Form 1065, partner and partnership elections, accounting methods and how to change an accounting method, and partnership tax years.
Upon successful completion of this course, the user should be able to:
recognize which entities are required to file Form 1065,
recognize when the Form 1065 is due and identify permitted uses of authorized private delivery services,
identify various penalties that may be imposed,
identify the general information items on Page 1 of Form 1065,
recognize the questions about the partnership on Pages 2 and 3 of Form 1065,
determine the required partnership and partner elections,
determine the accounting methods available to a partnership and identify IRC and Sect 481 adjustments, and
recognize when a partnership may use other than its required tax year.