Partnership (construction company LLC) had zero revenues in 2013 and only two (2) minor expenses (License Fee and Per Prop Tax) totaling less than $200. Partners are not ready to dissolve the company. Is a tax return required? If no, is there an advantage to filing even though it may not be required? Comments appreciated.
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From instructions to Form 1065:
"Except as provided below, every domestic
partnership must file Form 1065, unless it
neither receives income nor incurs any
expenditures treated as deductions or
credits for federal income tax purposes."Evan Appelman, EA -
Appleman has it correct from his quote/post
File the form 1065 even if -0- until the Partnership is legally closed and you file a "final return" with IRS and/or State , otherwise you will receive the Partner/Partnership Penalties, etc. Those are not "fun" notices to answer and have abated and extra work and correspondence/phone calls.
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