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Business & farm
if you are preparing the calendar year 2020 partnership return, I suggest you consult a tax pro for many reasons. the return was due in March, if unextended, and even if extended is now late. late filing penalties with 2 partners is about $400 per month late with the maximum penalty of about $5,000. if you don't understand where to enter other deductions and taxes, then you raise the questions of what else you could be doing incorrectly especially if this is a first-year filing. go wrong the first year and the issues can stick around forever.
‎November 16, 2021
5:50 PM