Partner Tax Filing

Why Partnership Tax Filing Matters

Unlike corporations, partnerships are pass-through entities—meaning the business itself does not pay federal income tax. Instead, income, deductions, and other tax items flow through to the individual partners, who report them on their personal tax returns.


Because of this, errors in partnership filings can result in IRS audits, partner disputes, delayed returns, or missed deductions. Accurate allocation of income, expenses, and credits is critical—not just for compliance, but for maintaining financial clarity and partner trust.

Accurate, Compliant Tax Filing for Partnerships and LLCs

If you operate a business partnership or a multi-member LLC, accurate tax filing is essential for IRS compliance and for maintaining positive financial relationships between partners. At National Income Tax Service Inc., we specialize in preparing and filing partnership tax returns, including IRS Form 1065 and Schedule K-1 distribution statements.



Serving Upper Marlboro and the surrounding areas, we provide expert-level guidance tailored to the structure and needs of your business partnership—ensuring that each partner’s share of income, loss, and credits is reported accurately and on time.

What’s Included in Our Partnership Filing Services

We provide full-service partnership tax preparation, including:


  • Preparation and filing of IRS Form 1065
  • Accurate calculation of partner ownership percentages
  • Generation of Schedule K-1s for each partner
  • Identification and classification of partnership income, losses, and deductions
  • State-specific filings for Maryland and other applicable jurisdictions
  • E-filing and direct partner distribution of tax documents
  • Review of prior returns for consistency or corrections
  • Guidance on capital accounts and partner basis tracking


Every return is reviewed for accuracy, compliance, and consistency with your partnership agreement.

Who We Help

Our partner tax filing services are ideal for:


  • General partnerships
  • Limited partnerships (LPs)
  • Limited liability partnerships (LLPs)
  • Multi-member LLCs taxed as partnerships
  • Family-owned partnerships
  • Real estate or investment groups
  • Joint ventures and closely held firms


Whether you operate a two-person partnership or manage a multi-owner LLC with complex transactions, we ensure your filing meets all federal and state requirements.

Common Issues We Help Prevent

Many partnerships run into trouble due to improperly reported partner allocations, late filings, or overlooked tax changes. At National Income Tax Service Inc., we help prevent costly issues by proactively managing:

Inconsistent K-1 allocations

Ensuring each partner’s share of profits and losses is recorded based on agreed ownership percentages

Capital account errors

Avoiding discrepancies that can trigger IRS red flags or partner conflicts

Filing delays

Meeting March 15 deadlines for Form 1065 to avoid late penalties

Misclassified expenses

Reviewing deductions for proper classification under IRS rules

Multi-state compliance

Addressing filing obligations when your partnership earns income across different states

Support for New Partnerships

Forming a new partnership or LLC? We provide consulting and setup support, including:


  • Assistance with EIN application and IRS classification
  • Guidance on entity structure and partnership agreements
  • Recordkeeping systems for tracking capital contributions and distributions
  • Education on estimated tax responsibilities for partners
  • Consultation on whether your LLC should be taxed as a partnership or S corporation


Starting with the right tax structure can save time, money, and legal issues down the road.

IRS Help for Partnerships

Already facing an IRS issue? We can help resolve problems such as:


  • Filing back Form 1065 returns
  • Amending prior-year partnership filings
  • Responding to IRS letters or partnership-level audits
  • Clarifying partner liabilities
  • Correcting capital account discrepancies


We’ll work directly with you—and the IRS if necessary—to bring your partnership into compliance and protect your partners’ financial interests.

Why Choose National Income Tax Service?

Partnerships are complex. You need a tax professional who understands the technical and practical sides of your business structure. We offer:



  • Local expertise in Maryland partnership tax laws
  • Experience with real estate partnerships, family businesses, and investment groups
  • Clear, prompt communication with all partners
  • Affordable pricing with no surprises
  • In-person or secure remote filing options
  • Year-round availability for questions and tax planning


When you choose us, you’re choosing accuracy, transparency, and dependable service.

Frequently Asked Questions

  • What is IRS Form 1065, and who needs to file it?

    Form 1065 is the U.S. Return of Partnership Income. It must be filed annually by partnerships and LLCs with more than one member.

  • What is a Schedule K-1?

    A Schedule K-1 reports each partner’s share of the partnership’s income, deductions, and credits. Each partner uses this form to report their portion on their personal tax return.

  • Can you help if my partnership didn’t file last year?

    Yes. We assist with back filings and IRS resolution to bring your partnership up to date.

  • Do you file for multi-member LLCs taxed as partnerships?

    Absolutely. We regularly prepare partnership returns for multi-member LLCs and provide guidance on how to maintain compliance throughout the year.

Schedule Your Partnership Tax Consultation

Let National Income Tax Service Inc. take the guesswork out of partnership tax filing. Whether you're starting a new partnership or filing for an established business, we provide clear, compliant, and personalized support.