1065
Business & Finance abbreviation · Tax
| Stands for | U.S. Return of Partnership Income (IRS Form 1065) |
|---|---|
| Categories | Business & Finance |
1065 stands for U.S. Return of Partnership Income (IRS Form 1065), a tax abbreviation.
Annual information return for partnerships, including most multi-member LLCs, reporting the business's income, deductions and credits. The partnership itself usually pays no federal income tax; each partner's share flows through on a Schedule K-1.
Example: Our three-member LLC files a 1065 by March 15 and sends each of us a K-1.
Usage notes
Due on the 15th day of the third month after year-end, with a six-month extension available on Form 7004. Late filing carries a penalty per partner per month, which adds up quickly. Partnerships with 100 or fewer eligible partners may elect out of the centralized audit regime created by the Bipartisan Budget Act of 2015.
Related abbreviations
More tax abbreviations
- 1040 – U.S. Individual Income Tax Return (IRS Form 1040)
- 1040-ES – Estimated Tax for Individuals (IRS Form 1040-ES)
- 1040-NR – U.S. Nonresident Alien Income Tax Return (IRS Form 1040-NR)
- 1040-SR – U.S. Tax Return for Seniors (IRS Form 1040-SR)
- 1040-X – Amended U.S. Individual Income Tax Return (IRS Form 1040-X)
- 1041 – U.S. Income Tax Return for Estates and Trusts (IRS Form 1041)
- 1095-A – Health Insurance Marketplace Statement (IRS Form 1095-A)
- 1098 – Mortgage Interest Statement (IRS Form 1098)
- 1098-E – Student Loan Interest Statement (IRS Form 1098-E)
- 1098-T – Tuition Statement (IRS Form 1098-T)
- 1099 – IRS Form 1099 information return series
- 1099-B – Proceeds From Broker and Barter Exchange Transactions (IRS Form…