Form 1065 – LLC

What you Should Know About Form 1065 – LLC

  • An LLC (Limited Liability Company), consisting of two or more partners, is a transparent U.S corporation that is taxed in the U.S as a partnership.
  • The corporation’s taxes are filed using Form 1065, that must be filed by March 15th.
  • One can file for an extension by the above date, and extend the due date to September 15th.
  • If this date falls on a Federal U.S holiday or the weekend, this date is postponed to the following day.
  • An LLC with foreign partners (non U.S citizens or residents) must withhold tax at a federal and often at the relevant State level.
    The withholding tax payments are made on a quarterly basis, but it is important to make such payments before December 15th of that tax year, if no tax was withheld throughout that tax year.

What’s the next step?

  • If you are the owner of an LLC with two or more partners and are required to file Form 1065, we recommend that you contact our firm towards December 15th, before the tax year ends, to enable us to prepare ourselves well both for the requirement to withhold tax and for the current tax year, and avoid fines and interest on arrears.
  • Our firm works according to the order it receives materials, and so we recommend contacting us earlier rather than later.
  • Contact us today to receive a letter of engagement and a list of the materials we require to file your taxes.

An example of a Form 1065

If you have any further questions, please feel free to contact us

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