Omer Osman Secretary of Transportation | LinkedIn
Omer Osman Secretary of Transportation | LinkedIn
The Illinois Department of Revenue has announced an addendum to the 2023 Form IL-1065 Instructions. This update includes new versions of the 2023 Form IL-1065 Instructions, 2023 Form IL-1065-X Instructions, and Schedule K-1-P(4) Instructions.
The addendum focuses on updated general filing instructions for investment partnerships. These partnerships are now required to calculate and report investment partnership withholding for their nonresident partners.
Changes have been made to the Form IL-1065 Instructions, Form IL-1065-X Instructions, and Schedule K-1-P(4) Instructions. The revisions include new filing requirements for investment partnerships. Specifically, investment partnership withholding must be reported on Schedule B, Section B, Line J, and the relevant lines of Schedule B, Section A.
For more information on updated forms, schedules, and instructions, individuals can refer to the Partnership Replacement Tax Forms page.
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