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If you have not received your K1 from the partnership then your personal returns
are late too.
If you have prepared the 1065 you should file the 1065. You should also issue the needed K1s for the partners.
As long as your position allows you to sign the 1065 then filing
is correct. Form
1065 is not considered to be a return
unless it is signed by a general partner or LLC
member manager. As long as you are a general partner you can sign the 1065.
For each failure to furnish Schedule K-1
to a partner when due and each failure to include on Schedule K-1 all the information required
to be shown (or the inclusion of incorrect information), a $100 penalty may be imposed for each Schedule K-1 for which a failure occurs.
By not filing you have opened yourself up to a penalty. A penalty is assessed against the partnership if it is required to file a
partnership return and it
(a) fails to file the return by the due date
, including extensions
(b) files a return that fails to show all the information required, unless such failure is due to reasonable cause.
The penalty is $195 for each month or part of a month (for a
maximum of 12 months) the failure continues, multiplied by the total number of persons who were partners in the partnership during any part of the partnership's tax year for which the return is due.