Campaigns will ensure that resources are used efficiently and effectively to improve taxpayer compliance. LB&I's goal is to improve return selection, identify issues representing the risk of non-compliance, and make the greatest use of limited resources.
Find federal tax information for people starting a business, and information to assist in making basic business decisions.
Provides an overview of electronic filing and more detailed information for those partnerships that prepare and transmit their own income tax returns using MeF. Partnerships that rely upon third party tax professionals to prepare and transmit their tax returns should consult their tax professional.
Partnerships file an information return to report their income, gains, losses, deductions, credits, etc. A partnership does not pay tax on its income but “passes through” any profits or losses to its partners. Partners must include partnership items on their tax or information returns.
A partnership is the relationship existing between two or more persons who join to carry on a trade or business.
This page contains information related to publicly traded partnerships that have effectively connected income, gain, or loss and who must pay withholding tax on any distributions of income made to its foreign partners.
You may be required to report yearly to the IRS foreign bank and financial accounts (FBAR) exceeding certain thresholds.