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Investor Tax Responsibility for Missing K-1
I am awaiting receipt of an investment partnership K-1. The sponsor has been difficult to deal with and delinquent in providing both financial and tax reporting. The filing deadline is looming and I'm not sure what I should do about this issue. I don't think the investment has generated taxable income in 2019, but really don't know what's going on other than I haven't received any distributions for 2019. I don't want be exposed to any potential interest or penalties. Is there something I can do vis-a-vis the IRS to alert them and thereby protect myself?
‎October 5, 2020
10:14 AM