The Schedule K-1 is included with a partnership Form 1065 tax filing. Each partner in the partnership should receive a Schedule K-1 which shows their allocable share of partnership items. This article and video walkthrough the basic fields on the K-1.
The IRS CP282 notice is mailed to a partnership when the partnership indicated it had non-U.S. partners. In general, a U.S. partnership with effectively connected income (ECI) must include additional forms and withholding taxes. This article and video discuss the CP282 tax notice.
A partnership should file Form 1065 for each year the partnership is in existence. This video tutorial covers a sample Form 1065 filing for the 2021 tax year.
