What happens when U.S. Partnership Returns are filed late?

Allan Madan, CA

Mar 28, 2013

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Question:

I’m a partner in a US Limited Liability Partnership, but I don’t think I will be able to file the 1065 (partnership return) by the due date. Can I file at a later date without incurring penalties?

Answer:

For a US LLP with a calendar year end, you can file Form 7004 to request an extension for filing the US LLP return. This request will provide an automatic 5-month extension of time to file from April 15th. This extension is due by April 15th.

Disclaimer

The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.

ABOUT THE AUTHOR

ALLAN MADAN

CA.CPA.CGA

Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.

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