I can confirm that mailing Form 1065 is absolutely allowed for partnerships. The IRS accepts paper filings for most partnership returns, with the main exception being partnerships with 100+ partners that are required to e-file. For your asset protection limited partnership with minimal activity, paper filing should work perfectly fine. Just be aware of a few key points: 1. Processing times are significantly longer for paper returns - typically 3-6 months versus a few weeks for e-filed returns 2. Make sure you're using the current tax year's forms and follow the mailing address instructions exactly (they vary by state) 3. You'll still need to prepare Schedule K-1s for each partner and provide copies to them by the March 15th deadline, regardless of when the IRS processes your return 4. Consider sending via certified mail with return receipt to have proof of timely filing The cost savings versus business tax software can definitely make sense for a simple partnership with minimal activity. Just budget extra time for any follow-up communications with the IRS since paper processing is much slower.

I've been handling paper filing for our small real estate partnership for several years now, and it's definitely a viable option. One thing I'd add to the excellent advice already shared here is to make sure you understand the backup withholding rules if your partnership has any investment income. Even with minimal activity, if you receive dividends or interest and don't have proper TIN certification from all partners, you might need to deal with backup withholding issues. This doesn't prevent paper filing, but it's something to be aware of when preparing your return. Also, I've found that including a simple partnership activity statement (even if it just says "holding assets, no active business operations") can help prevent follow-up questions from the IRS. It doesn't need to be fancy - just a one-page summary of what the partnership actually does. The paper filing route has worked well for us, especially since our partnership structure hasn't changed and we have consistent minimal activity year over year. The key is just being thorough with your documentation and patient with the processing timeline.

Has anyone had issues with their bank flagging IRS payments as suspicious activity? Last time I tried paying directly through the IRS site my bank froze my account and it was a whole ordeal to get it unfrozen.

Just to add to what others have said - definitely pay directly through the IRS website! I made the mistake of paying through TurboTax my first year owing taxes and got hit with an unnecessary $30+ convenience fee. The IRS Direct Pay system is actually really user-friendly and gives you immediate confirmation. You can even set up email notifications so you know exactly when your payment processes. I've been using it for the past few years and never had any issues with payments not being credited properly. One tip: make sure you have your Social Security Number and the exact amount you owe from your tax return handy when you go to pay. The system will ask you to verify a few details from your return to confirm your identity before processing the payment.

This whole thread has been super helpful! I was in the exact same boat as Isabella - left my job mid-year and had no clue when to report that income. One thing that really clicked for me reading through these responses is that the tax system is essentially always one year behind. So right now in 2025, we're dealing with what happened in 2024. It's like the IRS is saying "okay, tell us what you made last year and we'll settle up." The withholding explanation was especially useful. I always wondered why sometimes I get a refund and sometimes I owe money - now I understand it's just balancing what was already taken out versus what I actually owed. Makes so much more sense when you think of withholding as prepaying your taxes throughout the year rather than the government just taking random money from your paycheck! Thanks everyone for breaking this down in plain English instead of tax jargon.

The "one year behind" explanation is brilliant! I wish someone had explained it to me that way when I first started doing taxes. Just to add another helpful way to think about it - imagine the tax year as a box labeled "2024" and throughout that year you're putting all your income and expense receipts into that box. Then when tax season comes around in early 2025, you open up the 2024 box and tell the IRS everything that was in there. For Isabella's situation with leaving the job in October 2024, that income goes in the 2024 box and gets reported in spring 2025. Any new job income starting in 2025 goes in a fresh 2025 box that won't get opened until spring 2026. It's also worth noting that if you're worried about owing money when you file, you can always adjust your withholding at your current job or make quarterly estimated payments. The IRS actually prefers getting paid throughout the year rather than one big lump sum at filing time.

Make sure you and your parents are communicating about this!!! My GF and her mom had a huge problem last year because they BOTH filed - her mom claimed her as dependent while my GF filed as independent. The IRS flagged both returns and they had to submit amended returns. It delayed her refund by like 5 months.

Based on what you've described, it sounds like your dad is correct - you likely can still be claimed as their dependent despite your $40,500 income. Since you were a student for the first part of the year (through May graduation), lived with them the entire year, and they're providing significant support (housing, utilities, food, health insurance), you probably meet the "qualifying child" test. The income limit ($4,400) only applies to "qualifying relatives," not "qualifying children." For qualifying children, there's no income restriction - the key factors are age (you're under 24 and were a student), relationship (their child), residency (lived with them more than half the year), and support (they provided more than half). When you file your return, make sure to check the box indicating you can be claimed as a dependent. This coordination is crucial - if you file as independent while they claim you as dependent, the IRS will flag both returns and cause major delays. One thing to consider: being claimed as a dependent means you'll miss out on certain tax benefits like the student loan interest deduction (sounds like you paid $2,500 in interest). But typically, the tax savings your parents get from claiming you outweigh what you'd save filing independently. Might be worth running both scenarios to see the total tax impact for your family.

Make sure to check if you're claimed as a dependent on your parents' taxes before filing! This matters a lot. Ask them directly if they're claiming you. If they are claiming you (which is likely if they provide more than half your support), you still should file, but you'll need to check the box that someone can claim you as a dependent. This affects which credits you can claim. Also remember to file state taxes too! If your state has income tax and you had state taxes withheld (box 17 on W-2), you'll want that money back too!

@Anastasia Sokolov - Absolutely file! Even though you're not required to with $6,700 income, you'll likely get a nice refund if any taxes were withheld from your paychecks. A few quick tips for first-time filers: - Check box 2 on your W-2 - if there's money there, that's what you'll probably get back - Don't forget about education credits! The American Opportunity Tax Credit can be worth up to $2,500 and is partially refundable - Ask your parents if they're claiming you as a dependent - you'll need to check that box if they are - Use free filing software since your situation is simple (IRS Free File, FreeTaxUSA, or Cash App Taxes) The whole process should take about 30 minutes and the software walks you through everything step by step. You've got this! Better to file and get money back than leave it on the table.