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Expert Partnership & LLC Tax Filing Solutions
At Equity Tax, we specialize in accurate and strategic tax preparation for partnerships and LLCs of all sizes. Whether you operate a small local business or manage multi-state operations, our professionals ensure every member’s return is aligned with all IRS and state filing requirements. Filing as a partnership goes beyond basic numbers — it’s about correctly allocating income, deductions, and credits to each partner while maintaining full compliance and preventing costly mistakes that can lead to audits or penalties.
Our team takes the time to understand your business structure, ownership breakdown, and operational details before preparing your return. From filing Form 1065 to generating Schedule K-1s for each partner, every submission undergoes a meticulous review to ensure accuracy, transparency, and adherence to partnership tax laws. With Equity Tax, you gain a dedicated team focused on precision, compliance, and clear communication — helping your business avoid double taxation and maximize long-term financial efficiency.
How Our Partnership Tax Filing Process Works
We serve Northwest Arkansas, the entire state of Arkansas, and neighboring states, with consulting clients nationwide. Our flexible approach allows us to work with clients through in-person meetings, phone calls, webinars, emails, texts, and messaging.
Intro Consultation and Information Gathering
We begin by reviewing your partnership agreement, prior-year returns, ownership structure, and income sources to ensure an accurate foundation
Document Discovery
We collect financial statements, payroll reports, partner capital accounts, and business expense records to identify deductions and ensure complete reporting.
Tax Preparation & K-1 Allocation
Our team prepares Form 1065 and assigns profits, losses, and credits among partners in compliance with IRS rules and your operating agreement.
Partner Review & Adjustments
We review the draft return with you and clarify each K-1 allocation so every partner understands their tax impact.
E-Filing & Year-Round Support
Once finalized, we e-file your federal and state returns, distribute partner copies, and remain available year-round to answer IRS or state questions.
Why Businesses Trust Equity Tax for Partnership Returns
Our specialists bring years of experience preparing partnership and LLC returns across industries — from professional services and real estate firms to startups and e-commerce ventures. We help you navigate complex ownership structures, multi-state operations, and profit-sharing allocations while minimizing tax exposure.
Beyond Filing — Strategic Tax Support for Every Partner
Our partnership tax solutions integrate with broader business services to keep your finances running smoothly.
Partnership Tax Filing FAQs
Have questions about your taxes? Our experts are here to help you understand deductions, refunds, and compliance — so you can file with confidence and peace of mind.
When is the partnership tax return due?
The IRS deadline for partnerships (Form 1065) is March 15 each year, or the 15th day of the third month after your fiscal year ends. Extensions are available until September 15.
What forms are required for a partnership?
You’ll need Form 1065 for the business and Schedule K-1 for each partner to report their share of income, deductions, and credits. Each partner then uses their K-1 to complete their individual return.
Do partnerships pay income tax directly?
No. Partnerships are “pass-through entities,” meaning profits and losses flow through to the partners’ personal returns. The partnership itself doesn’t pay federal income tax.
Can you file for multi-state partnerships?
Yes. We prepare filings for businesses operating in multiple states, ensuring proper income apportionment and credit coordination to prevent double taxation.
What if partners have unequal ownership or special allocations?
We carefully follow your partnership or operating agreement to apply the correct allocation of profits, losses, and distributions as defined by the IRS and your state.
Can you help with late or amended partnership returns?
Absolutely. We assist with past-due filings, corrections via Form 1065-X, and responses to IRS or state notices.
How do you handle capital contributions and withdrawals?
We accurately track each partner’s capital account, ensuring contributions, draws, and retained earnings are reflected properly in both your books and K-1s.
Do you assist with converting to or from an S Corporation?
Yes. We provide entity conversion guidance and tax planning to ensure smooth transitions between partnership and S Corporation structures without triggering unnecessary tax events.