@Curious One wrote:
...Is there something I can do vis-a-vis the IRS to alert them and thereby protect myself?
It makes no difference since you are going to be held responsible for the inclusion of any net income or gain that is passed through to you via the K-1 (once you finally receive it).
In other words, there is no way to "protect" yourself beyond making additional estimated payments and filing an amended return (if necessary) after you receive your K-1.
To be perfectly blunt, you might want to consider consulting your legal, tax, and financial advisors about the viability of investing in an entity that issues as K-1.
