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Old 01-14-2008, 07:11 PM
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Must a partnership file a tax return even though it had no taxable income for 2007?

Should a partnership with no income still be required to file a Form 1065 partnership return for Year 2007?

Last edited by bookkeeping : 01-15-2008 at 02:45 PM.
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  #2 (permalink)  
Old 01-15-2008, 12:50 PM
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Should a partnership with no income still be required to file a Form 1065 Return?

The IRS has specifically addressed this issue with respect to a partnership's filing requirements. In fact, the IRS has stated clearly that " a domestic partnership must file an income tax form unless it neither receives gross income nor pays or incurs any amount treated as a deduction or credit for federal tax purposes."

This is in sharp contrast to a domestic corporation that is required to file an income tax form whether it has taxable income or not. Fortunately, in your case you would not be required to file a US Form 1065 Partnership tax return if you meet the condition specified above.
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